Brokerages expect Genco Shipping & Trading Limited (NYSE:GNK – Get Rating) to report sales of $95.81 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Genco Shipping & Trading’s earnings, with estimates ranging from $86.89 million to $103.93 million. Genco Shipping & Trading posted sales of $52.52 million during the same quarter last year, which indicates a positive year-over-year growth rate of 82.4%. The business is expected to issue its next earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Genco Shipping & Trading will report full year sales of $386.97 million for the current year, with estimates ranging from $349.96 million to $435.20 million. For the next financial year, analysts expect that the company will post sales of $395.40 million, with estimates ranging from $378.60 million to $426.03 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Genco Shipping & Trading.
Genco Shipping & Trading (NYSE:GNK – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The shipping company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.10. The firm had revenue of $146.67 million during the quarter, compared to analyst estimates of $129.28 million. Genco Shipping & Trading had a return on equity of 22.19% and a net margin of 33.27%. During the same quarter in the previous year, the business earned $0.22 earnings per share.
Genco Shipping & Trading stock opened at $24.64 on Friday. The business has a fifty day moving average of $20.81 and a two-hundred day moving average of $17.83. The company has a quick ratio of 3.59, a current ratio of 4.17 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.03 billion, a P/E ratio of 5.77 and a beta of 0.85. Genco Shipping & Trading has a twelve month low of $11.00 and a twelve month high of $25.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 17th. Stockholders of record on Thursday, March 10th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 10.88%. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, March 9th. Genco Shipping & Trading’s dividend payout ratio is presently 62.76%.
In other Genco Shipping & Trading news, CEO John C. Wobensmith sold 14,164 shares of the stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $19.70, for a total transaction of $279,030.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John C. Wobensmith sold 10,090 shares of the stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $19.73, for a total transaction of $199,075.70. The disclosure for this sale can be found here. Insiders have sold 82,292 shares of company stock worth $1,696,480 over the last 90 days. 2.07% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its position in Genco Shipping & Trading by 62.7% during the 4th quarter. State Street Corp now owns 1,766,568 shares of the shipping company’s stock valued at $28,265,000 after purchasing an additional 680,853 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Genco Shipping & Trading by 558.7% in the 3rd quarter. Goldman Sachs Group Inc. now owns 637,611 shares of the shipping company’s stock valued at $12,835,000 after buying an additional 540,813 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $5,317,000. Millennium Management LLC lifted its holdings in Genco Shipping & Trading by 51.4% during the 3rd quarter. Millennium Management LLC now owns 973,923 shares of the shipping company’s stock valued at $19,605,000 after purchasing an additional 330,632 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Genco Shipping & Trading during the 3rd quarter worth $5,369,000. 73.75% of the stock is currently owned by hedge funds and other institutional investors.
About Genco Shipping & Trading (Get Rating)
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns and operates dry bulk carrier vessels to transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.
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