Genco Shipping & Trading Limited (NYSE:GNK) has been given a consensus rating of “Buy” by the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.25.
GNK has been the topic of a number of research analyst reports. ValuEngine downgraded Genco Shipping & Trading from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th. Zacks Investment Research raised Genco Shipping & Trading from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, June 20th. Finally, Noble Financial set a $24.00 price objective on Genco Shipping & Trading and gave the company a “buy” rating in a report on Thursday, July 19th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in shares of Genco Shipping & Trading by 4.8% during the 1st quarter. Northern Trust Corp now owns 84,773 shares of the shipping company’s stock valued at $1,205,000 after acquiring an additional 3,899 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Genco Shipping & Trading by 1,178.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,823 shares of the shipping company’s stock valued at $121,000 after acquiring an additional 7,211 shares in the last quarter. SG Americas Securities LLC bought a new position in Genco Shipping & Trading during the 2nd quarter worth $146,000. Schwab Charles Investment Management Inc. raised its position in Genco Shipping & Trading by 82.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 22,200 shares of the shipping company’s stock worth $316,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Genco Shipping & Trading during the 2nd quarter worth $163,000. 87.68% of the stock is currently owned by institutional investors.
Shares of GNK stock traded down $0.21 during trading hours on Wednesday, reaching $13.09. The company’s stock had a trading volume of 856 shares, compared to its average volume of 213,591. The company has a market cap of $570.44 million, a PE ratio of -10.26 and a beta of 0.16. Genco Shipping & Trading has a fifty-two week low of $9.75 and a fifty-two week high of $20.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.85 and a current ratio of 4.14.
Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. The firm had revenue of $86.16 million for the quarter, compared to the consensus estimate of $59.97 million. Genco Shipping & Trading had a negative return on equity of 0.59% and a negative net margin of 29.58%. equities analysts predict that Genco Shipping & Trading will post 0.78 EPS for the current fiscal year.
Genco Shipping & Trading Company Profile
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, such as commodities traders; producers; and government-owned entities.
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