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

Genco Shipping & Trading Limited (NYSE:GNK) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $21.00.

Several equities analysts have recently issued reports on GNK shares. Alliance Global Partners lowered Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research report on Thursday, February 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Genco Shipping & Trading in a research report on Friday, March 27th. Finally, Zacks Research lowered Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th.

Insider Buying and Selling

In related news, CAO Joseph Adamo sold 6,340 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 38,519 shares of the company’s stock, valued at approximately $911,744.73. This represents a 14.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter George Allen sold 13,315 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $23.66, for a total value of $315,032.90. Following the sale, the chief financial officer directly owned 66,702 shares of the company’s stock, valued at approximately $1,578,169.32. The trade was a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 55,824 shares of company stock valued at $1,313,949. 2.37% of the stock is owned by corporate insiders.

Institutional Trading of Genco Shipping & Trading

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in Genco Shipping & Trading by 364.8% during the 1st quarter. SG Americas Securities LLC now owns 307,663 shares of the shipping company’s stock worth $6,938,000 after purchasing an additional 241,471 shares in the last quarter. Invesco Ltd. boosted its position in Genco Shipping & Trading by 0.8% during the 4th quarter. Invesco Ltd. now owns 125,535 shares of the shipping company’s stock worth $2,314,000 after acquiring an additional 935 shares during the last quarter. XTX Topco Ltd acquired a new position in Genco Shipping & Trading during the 4th quarter worth approximately $1,070,000. Voloridge Investment Management LLC acquired a new position in Genco Shipping & Trading during the 4th quarter worth approximately $201,000. Finally, Millennium Management LLC boosted its position in Genco Shipping & Trading by 100.3% during the 4th quarter. Millennium Management LLC now owns 543,290 shares of the shipping company’s stock worth $10,013,000 after acquiring an additional 272,094 shares during the last quarter. 58.62% of the stock is owned by institutional investors.

Genco Shipping & Trading Price Performance

Genco Shipping & Trading stock opened at $23.82 on Friday. The firm has a market capitalization of $1.03 billion, a P/E ratio of -216.50, a PEG ratio of 5.53 and a beta of 1.17. Genco Shipping & Trading has a 1 year low of $12.11 and a 1 year high of $24.81. The business has a 50-day moving average of $22.76 and a 200-day moving average of $19.77. The company has a current ratio of 2.39, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21.

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

Genco Shipping & Trading Increases Dividend

The firm also recently announced 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 represents a $2.00 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend was Wednesday, March 11th. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.15. 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.