Genco Shipping & Trading (GNK) Upgraded at ValuEngine

ValuEngine upgraded shares of Genco Shipping & Trading (NYSE:GNK) from a sell rating to a hold rating in a report released on Monday morning.

GNK has been the topic of a number of other reports. Jefferies Group initiated coverage on shares of Genco Shipping & Trading in a report on Monday, December 18th. They issued a buy rating and a $20.00 price target on the stock. TheStreet raised shares of Genco Shipping & Trading from a d rating to a c- rating in a report on Wednesday, February 28th. Noble Financial initiated coverage on shares of Genco Shipping & Trading in a report on Friday, January 12th. They issued a buy rating and a $20.00 price target on the stock. Zacks Investment Research raised shares of Genco Shipping & Trading from a sell rating to a hold rating in a report on Tuesday, January 9th. Finally, Seaport Global Securities set a $18.00 price target on shares of Genco Shipping & Trading and gave the stock a buy rating in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Genco Shipping & Trading presently has a consensus rating of Buy and an average target price of $17.50.

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NYSE GNK traded down $0.36 during trading on Monday, hitting $14.39. 38,806 shares of the company’s stock traded hands, compared to its average volume of 116,170. The company has a market cap of $492.77, a PE ratio of -11.33 and a beta of -0.08. Genco Shipping & Trading has a 12-month low of $8.47 and a 12-month high of $16.29. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.51.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Tuesday, February 27th. The shipping company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The business had revenue of $74.92 million for the quarter, compared to the consensus estimate of $58.10 million. Genco Shipping & Trading had a negative net margin of 28.00% and a negative return on equity of 4.49%. equities research analysts anticipate that Genco Shipping & Trading will post 0.61 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Strategic Value Partners LLC bought a new position in shares of Genco Shipping & Trading in the fourth quarter worth approximately $135,404,000. Raynor Geoffrey increased its position in shares of Genco Shipping & Trading by 1,704.8% in the fourth quarter. Raynor Geoffrey now owns 1,011,408 shares of the shipping company’s stock worth $13,472,000 after purchasing an additional 955,369 shares during the last quarter. Jefferies Group LLC bought a new position in shares of Genco Shipping & Trading in the fourth quarter worth approximately $4,262,000. Northern Trust Corp increased its position in shares of Genco Shipping & Trading by 388.0% in the second quarter. Northern Trust Corp now owns 82,303 shares of the shipping company’s stock worth $779,000 after purchasing an additional 65,437 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Genco Shipping & Trading by 102.0% in the second quarter. Dimensional Fund Advisors LP now owns 27,964 shares of the shipping company’s stock worth $265,000 after purchasing an additional 14,122 shares during the last quarter. Institutional investors own 86.72% of the company’s stock.

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About Genco Shipping & Trading

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, including commodities traders; producers; and government-owned entities.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Genco Shipping & Trading (NYSE:GNK)

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