Genco Shipping & Trading Limited (NYSE:GNK) Receives Average Rating of “Moderate Buy” from Brokerages

Genco Shipping & Trading Limited (NYSE:GNK) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $26.00.

A number of equities analysts have commented on GNK shares. B. Riley Financial reissued a “buy” rating on shares of Genco Shipping & Trading in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Genco Shipping & Trading from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Alliance Global Partners reaffirmed a “neutral” rating on shares of Genco Shipping & Trading in a report on Wednesday, June 17th. Finally, Zacks Research lowered Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th.

Genco Shipping & Trading Stock Up 1.3%

Shares of GNK opened at $27.16 on Thursday. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 3.10 and a beta of 0.93. Genco Shipping & Trading has a 1 year low of $15.55 and a 1 year high of $27.82. The business’s 50 day simple moving average is $25.77 and its 200-day simple moving average is $24.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.97 and a quick ratio of 2.41.

Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Wednesday, August 5th. The shipping company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $136.41 million during the quarter, compared to analyst estimates of $90.59 million. Genco Shipping & Trading had a net margin of 9.15% and a return on equity of 6.46%. Genco Shipping & Trading’s revenue for the quarter was up 68.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) earnings per share. As a group, equities analysts expect that Genco Shipping & Trading will post 2.25 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a $0.80 dividend. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 11.8%. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 351.65%.

Institutional Trading of Genco Shipping & Trading

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in Genco Shipping & Trading by 230.1% during the first quarter. Blue Trust Inc. now owns 1,347 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 939 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Genco Shipping & Trading in the 3rd quarter worth about $30,000. Kemnay Advisory Services Inc. purchased a new position in shares of Genco Shipping & Trading during the 4th quarter worth about $32,000. Public Employees Retirement System of Ohio purchased a new position in shares of Genco Shipping & Trading during the 2nd quarter worth about $35,000. Finally, Sunbelt Securities Inc. bought a new position in Genco Shipping & Trading during the 3rd quarter valued at about $35,000. 58.62% of the stock is currently owned by institutional investors.

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.