B. Riley Issues Negative Forecast for GNK Earnings

Genco Shipping & Trading Limited (NYSE:GNK) – Stock analysts at B. Riley decreased their Q1 2025 earnings estimates for Genco Shipping & Trading in a report released on Tuesday, April 29th. B. Riley analyst L. Burke now forecasts that the shipping company will earn ($0.32) per share for the quarter, down from their prior estimate of ($0.23). The consensus estimate for Genco Shipping & Trading’s current full-year earnings is $0.48 per share. B. Riley also issued estimates for Genco Shipping & Trading’s FY2025 earnings at ($0.29) EPS.

Several other equities analysts also recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Pareto Securities raised shares of Genco Shipping & Trading to a “strong-buy” rating in a research note on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Genco Shipping & Trading Trading Up 1.9 %

Shares of GNK stock opened at $13.62 on Friday. Genco Shipping & Trading has a fifty-two week low of $11.20 and a fifty-two week high of $23.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The stock’s fifty day moving average is $13.22 and its two-hundred day moving average is $14.53. The firm has a market capitalization of $584.89 million, a P/E ratio of 7.78, a PEG ratio of 5.64 and a beta of 0.96.

Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The firm had revenue of $67.95 million for the quarter, compared to analyst estimates of $67.36 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in shares of Genco Shipping & Trading in the 4th quarter valued at $28,000. R Squared Ltd purchased a new stake in Genco Shipping & Trading during the fourth quarter worth about $29,000. New Age Alpha Advisors LLC purchased a new position in shares of Genco Shipping & Trading in the fourth quarter valued at approximately $56,000. GAMMA Investing LLC grew its holdings in shares of Genco Shipping & Trading by 1,119.1% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company’s stock valued at $60,000 after purchasing an additional 4,096 shares in the last quarter. Finally, Randolph Co Inc purchased a new stake in Genco Shipping & Trading during the 1st quarter worth approximately $134,000. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Genco Shipping & Trading

In other news, insider Jesper Christensen sold 13,602 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the transaction, the insider now directly owns 57,322 shares in the company, valued at approximately $800,215.12. This represents a 19.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter George Allen sold 8,984 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $125,416.64. Following the completion of the transaction, the chief financial officer now directly owns 45,251 shares in the company, valued at $631,703.96. The trade was a 16.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,812 shares of company stock worth $402,216. Insiders own 2.50% of the company’s stock.

Genco Shipping & Trading Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.81%. Genco Shipping & Trading’s dividend payout ratio is currently 68.57%.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.