Analysts Set Genco Shipping & Trading Limited (NYSE:GNK) Price Target at $21.00

Genco Shipping & Trading Limited (NYSE:GNK) has been assigned an average rating of “Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.00.

A number of research analysts have commented on GNK shares. Alliance Global Partners downgraded shares of Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genco Shipping & Trading in a research report on Monday, December 29th. Wall Street Zen lowered shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Finally, Zacks Research raised shares of Genco Shipping & Trading from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th.

Insider Activity at Genco Shipping & Trading

In other Genco Shipping & Trading news, CFO Peter George Allen sold 13,315 shares of Genco Shipping & Trading stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $23.66, for a total value of $315,032.90. Following the transaction, the chief financial officer owned 66,702 shares in the company, valued at $1,578,169.32. The trade was a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joseph Adamo sold 6,340 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $23.67, for a total transaction of $150,067.80. Following the completion of the transaction, the chief accounting officer owned 38,519 shares of the company’s stock, valued at $911,744.73. This represents a 14.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,824 shares of company stock valued at $1,313,949 over the last quarter. 2.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genco Shipping & Trading

A number of hedge funds and other institutional investors have recently bought and sold shares of GNK. Envestnet Asset Management Inc. acquired a new position in shares of Genco Shipping & Trading during the second quarter worth $255,000. American Century Companies Inc. boosted its position in shares of Genco Shipping & Trading by 5.9% in the 2nd quarter. American Century Companies Inc. now owns 1,549,197 shares of the shipping company’s stock worth $20,248,000 after purchasing an additional 86,317 shares in the last quarter. Citigroup Inc. boosted its position in shares of Genco Shipping & Trading by 727.6% in the 3rd quarter. Citigroup Inc. now owns 215,412 shares of the shipping company’s stock worth $3,834,000 after purchasing an additional 189,383 shares in the last quarter. CSM Advisors LLC raised its stake in Genco Shipping & Trading by 18.4% in the third quarter. CSM Advisors LLC now owns 351,045 shares of the shipping company’s stock valued at $6,248,000 after buying an additional 54,575 shares during the last quarter. Finally, Creative Planning boosted its holdings in Genco Shipping & Trading by 147.9% in the second quarter. Creative Planning now owns 49,141 shares of the shipping company’s stock worth $642,000 after acquiring an additional 29,321 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Price Performance

Shares of GNK stock opened at $22.82 on Monday. Genco Shipping & Trading has a twelve month low of $11.20 and a twelve month high of $24.81. The company has a current ratio of 2.39, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $21.41 and a two-hundred day simple moving average of $19.04. The stock has a market capitalization of $988.35 million, a price-to-earnings ratio of -207.39, a P/E/G ratio of 5.04 and a beta of 1.14.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings results on Tuesday, February 17th. The shipping company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Genco Shipping & Trading had a negative return on equity of 0.12% and a negative net margin of 1.28%.The firm had revenue of $109.92 million for the quarter, compared to analyst estimates of $78.52 million. During the same quarter last year, the firm posted $0.29 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts predict that Genco Shipping & Trading will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 11th were paid a dividend of $0.50 per share. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, March 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.8%. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently -1,818.18%.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.