Research Analysts’ Recent Ratings Updates for Genco Shipping & Trading (GNK)

Several brokerages have updated their recommendations and price targets on shares of Genco Shipping & Trading (NYSE: GNK) in the last few weeks:

  • 5/10/2022 – Genco Shipping & Trading was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 5/6/2022 – Genco Shipping & Trading had its price target raised by analysts at B. Riley from $27.00 to $31.00.
  • 4/27/2022 – Genco Shipping & Trading is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating on the stock.
  • 4/26/2022 – Genco Shipping & Trading was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Genco Shipping & Trading Ltd. is a ship owning company. It transport iron ore, coal, grain, steel products and other drybulk cargoes along shipping routes. The company owned fleet of dry cargo vessels which consists of Capesize, Panamax, Ultramax, Supramax, Handymax and Handysize vessels. Genco Shipping & Trading Ltd. is based in New York, United States. “
  • 3/31/2022 – Genco Shipping & Trading is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

Shares of GNK opened at $22.04 on Thursday. Genco Shipping & Trading Limited has a 52 week low of $13.21 and a 52 week high of $26.00. The stock has a market capitalization of $927.93 million, a price-to-earnings ratio of 4.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.59 and a current ratio of 4.17. The stock has a fifty day moving average of $22.25 and a 200-day moving average of $18.33.

Genco Shipping & Trading (NYSE:GNKGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The shipping company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.10. The firm had revenue of $146.67 million during the quarter, compared to the consensus estimate of $129.28 million. Genco Shipping & Trading had a return on equity of 26.20% and a net margin of 37.21%. During the same period last year, the business posted $0.22 EPS. As a group, equities analysts forecast that Genco Shipping & Trading Limited will post 4.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 24th. Stockholders of record on Monday, May 16th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $3.16 annualized dividend and a dividend yield of 14.34%. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.67. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 51.64%.

In other Genco Shipping & Trading news, CEO John C. Wobensmith sold 14,164 shares of the business’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $19.70, for a total value of $279,030.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Apostolos Zafolias sold 1,614 shares of the business’s stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $19.71, for a total transaction of $31,811.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,292 shares of company stock valued at $1,696,480. 2.07% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC increased its stake in shares of Genco Shipping & Trading by 137.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 41,992 shares of the shipping company’s stock worth $672,000 after purchasing an additional 24,333 shares in the last quarter. Sweet Financial Partners LLC purchased a new stake in shares of Genco Shipping & Trading in the fourth quarter worth $200,000. Voya Investment Management LLC increased its stake in shares of Genco Shipping & Trading by 7.3% in the third quarter. Voya Investment Management LLC now owns 13,145 shares of the shipping company’s stock worth $265,000 after purchasing an additional 899 shares in the last quarter. Citigroup Inc. increased its stake in shares of Genco Shipping & Trading by 13.4% in the third quarter. Citigroup Inc. now owns 17,825 shares of the shipping company’s stock worth $359,000 after purchasing an additional 2,102 shares in the last quarter. Finally, LSV Asset Management purchased a new position in Genco Shipping & Trading during the fourth quarter valued at $868,000. Institutional investors own 75.90% of the company’s stock.

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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