Brokerages Expect Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) Will Announce Earnings of $1.59 Per Share

Wall Street analysts expect that Grindrod Shipping Holdings Ltd. (NASDAQ:GRINGet Rating) will report earnings of $1.59 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Grindrod Shipping’s earnings, with the highest EPS estimate coming in at $1.75 and the lowest estimate coming in at $1.43. Grindrod Shipping posted earnings of $1.01 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 57.4%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Grindrod Shipping will report full-year earnings of $5.91 per share for the current year, with EPS estimates ranging from $5.84 to $5.98. For the next financial year, analysts forecast that the firm will post earnings of $5.38 per share, with EPS estimates ranging from $5.05 to $5.70. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Grindrod Shipping.

Grindrod Shipping (NASDAQ:GRINGet Rating) last released its quarterly earnings results on Tuesday, May 24th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.20. Grindrod Shipping had a return on equity of 41.13% and a net margin of 23.38%. During the same quarter in the previous year, the company posted $0.12 earnings per share.

A number of analysts have commented on the company. Jefferies Financial Group initiated coverage on Grindrod Shipping in a report on Wednesday, April 27th. They set a “buy” rating and a $26.00 price objective for the company. TheStreet upgraded Grindrod Shipping from a “d+” rating to a “c+” rating in a research report on Monday, April 18th. Finally, Zacks Investment Research upgraded Grindrod Shipping from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research report on Wednesday, February 23rd.

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Grindrod Shipping by 936.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 405,162 shares of the company’s stock valued at $10,307,000 after buying an additional 366,052 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Grindrod Shipping during the third quarter valued at approximately $5,475,000. Renaissance Technologies LLC lifted its position in Grindrod Shipping by 160.2% during the third quarter. Renaissance Technologies LLC now owns 334,938 shares of the company’s stock valued at $5,165,000 after acquiring an additional 206,238 shares during the last quarter. Islet Management LP purchased a new stake in Grindrod Shipping during the third quarter valued at approximately $1,542,000. Finally, Robotti Robert purchased a new position in shares of Grindrod Shipping in the first quarter worth $2,544,000. 32.90% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ GRIN traded up $1.12 during trading on Thursday, reaching $26.17. The company had a trading volume of 4,247 shares, compared to its average volume of 457,610. The stock has a market cap of $503.77 million, a P/E ratio of 4.37 and a beta of 0.80. The company has a quick ratio of 1.47, a current ratio of 1.61 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average price is $25.03 and its 200-day moving average price is $20.33. Grindrod Shipping has a 12 month low of $7.99 and a 12 month high of $28.98.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 20th. Shareholders of record on Friday, June 10th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date is Thursday, June 9th. Grindrod Shipping’s dividend payout ratio (DPR) is presently 48.16%.

About Grindrod Shipping (Get Rating)

Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters-in, and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term chartered-in dry bulk carriers that transport a range of bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers.

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