Genco Shipping & Trading (NYSE:GNK) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genco Shipping & Trading (NYSE:GNK) in a research note issued on Wednesday, Benzinga reports. The firm set a “buy” rating and a $22.00 price target on the shipping company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 29.87% from the stock’s previous close.

Several other brokerages also recently commented on GNK. Alliance Global Partners raised their target price on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, July 1st. StockNews.com upgraded shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Jefferies Financial Group upped their target price on shares of Genco Shipping & Trading from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, B. Riley lifted their price target on Genco Shipping & Trading from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.80.

Genco Shipping & Trading Trading Down 0.4 %

NYSE GNK traded down $0.07 during trading on Wednesday, reaching $16.94. 247,316 shares of the stock traded hands, compared to its average volume of 627,262. Genco Shipping & Trading has a fifty-two week low of $12.65 and a fifty-two week high of $23.43. The company has a quick ratio of 2.94, a current ratio of 3.59 and a debt-to-equity ratio of 0.10. The firm has a market cap of $724.32 million, a price-to-earnings ratio of 282.33 and a beta of 0.96. The stock’s 50-day moving average price is $19.20 and its 200 day moving average price is $20.38.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $107.00 million during the quarter, compared to analysts’ expectations of $74.86 million. Genco Shipping & Trading had a net margin of 3.59% and a return on equity of 6.11%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Analysts predict that Genco Shipping & Trading will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Genco Shipping & Trading

Institutional investors have recently bought and sold shares of the business. Foundry Partners LLC acquired a new position in Genco Shipping & Trading in the 1st quarter valued at about $3,812,000. Vanguard Group Inc. grew its position in shares of Genco Shipping & Trading by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,147,377 shares of the shipping company’s stock valued at $23,326,000 after purchasing an additional 47,060 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Genco Shipping & Trading by 965.0% during the first quarter. BNP Paribas Financial Markets now owns 106,003 shares of the shipping company’s stock worth $2,155,000 after purchasing an additional 96,050 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Genco Shipping & Trading by 6,233.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,945 shares of the shipping company’s stock worth $24,395,000 after purchasing an additional 1,181,000 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Genco Shipping & Trading by 30.8% in the 4th quarter. Allianz Asset Management GmbH now owns 156,085 shares of the shipping company’s stock valued at $2,589,000 after purchasing an additional 36,776 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

About Genco Shipping & Trading

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.