Brokerages Set Genco Shipping & Trading Limited (NYSE:GNK) Price Target at $25.80

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.80.

A number of equities research analysts have recently issued reports on GNK shares. Deutsche Bank Aktiengesellschaft started coverage on Genco Shipping & Trading in a report on Wednesday, September 4th. They set a “buy” rating and a $22.00 price objective for the company. Alliance Global Partners boosted their price objective on Genco Shipping & Trading from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, July 1st.

Institutional Investors Weigh In On Genco Shipping & Trading

Several institutional investors have recently made changes to their positions in GNK. CWM LLC lifted its stake in Genco Shipping & Trading by 109.5% during the second quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after purchasing an additional 998 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Genco Shipping & Trading during the second quarter worth $82,000. nVerses Capital LLC bought a new stake in Genco Shipping & Trading during the second quarter worth $136,000. Banque Cantonale Vaudoise lifted its stake in Genco Shipping & Trading by 236.6% during the first quarter. Banque Cantonale Vaudoise now owns 8,536 shares of the shipping company’s stock worth $174,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Genco Shipping & Trading during the second quarter worth $178,000. 58.62% of the stock is currently owned by institutional investors.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK opened at $17.84 on Monday. The business’s 50 day moving average price is $17.74 and its two-hundred day moving average price is $19.98. The company has a market cap of $762.84 million, a PE ratio of 54.06, a price-to-earnings-growth ratio of 0.25 and a beta of 0.95. The company has a quick ratio of 2.94, a current ratio of 3.59 and a debt-to-equity ratio of 0.10. Genco Shipping & Trading has a twelve month low of $12.65 and a twelve month high of $23.43.

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

Genco Shipping & Trading Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 7.62%. The ex-dividend date was Monday, August 19th. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently 412.12%.

Genco Shipping & Trading Company Profile

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.