Genco Shipping & Trading Limited (NYSE:GNK) Receives Consensus Rating of “Hold” from Analysts

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have been assigned a consensus rating of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of analysts have recently weighed in on the stock. Alliance Global Partners restated a “neutral” rating on shares of Genco Shipping & Trading in a research note on Wednesday, June 17th. Weiss Ratings upgraded shares of Genco Shipping & Trading from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $29.00 target price on shares of Genco Shipping & Trading in a report on Friday, May 8th. B. Riley Financial reissued a “buy” rating on shares of Genco Shipping & Trading in a research report on Friday, August 7th. Finally, Zacks Research cut shares of Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a report on Wednesday.

Institutional Trading of Genco Shipping & Trading

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in Genco Shipping & Trading by 230.1% in the 1st quarter. Blue Trust Inc. now owns 1,347 shares of the shipping company’s stock worth $30,000 after buying an additional 939 shares during the period. Advisory Services Network LLC bought a new stake in shares of Genco Shipping & Trading in the third quarter valued at approximately $30,000. Strengthening Families & Communities LLC bought a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at approximately $31,000. Kemnay Advisory Services Inc. bought a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at approximately $32,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Genco Shipping & Trading in the second quarter worth $35,000. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Up 1.3%

Shares of GNK stock opened at $26.43 on Friday. The stock’s 50 day simple moving average is $25.05 and its 200 day simple moving average is $23.92. Genco Shipping & Trading has a twelve month low of $15.55 and a twelve month high of $27.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.41 and a current ratio of 2.97. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 3.06 and a beta of 0.94.

Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Wednesday, August 5th. The shipping company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. Genco Shipping & Trading had a return on equity of 6.46% and a net margin of 9.15%.The firm had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $90.59 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The company’s revenue was up 68.5% on a year-over-year basis. As a group, research analysts predict that Genco Shipping & Trading will post 2.25 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be paid a $0.80 dividend. The ex-dividend date is Monday, August 17th. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.35. This represents a $3.20 dividend on an annualized basis and a dividend yield of 12.1%. Genco Shipping & Trading’s dividend payout ratio is presently 351.65%.

About Genco Shipping & Trading

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.