Zacks: Analysts Expect Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) to Announce -$0.03 Earnings Per Share

Equities analysts predict that Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) will report ($0.03) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands)’s earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at ($0.02). Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) posted earnings of ($3.35) per share during the same quarter last year, which suggests a positive year over year growth rate of 99.1%. The firm is scheduled to report its next earnings report on Wednesday, March 7th.

On average, analysts expect that Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) will report full year earnings of ($1.41) per share for the current financial year, with EPS estimates ranging from ($1.44) to ($1.39). For the next financial year, analysts forecast that the company will post earnings of $0.58 per share, with EPS estimates ranging from ($0.88) to $1.79. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands).

A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “sell” rating to a “hold” rating in a research report on Friday. Noble Financial initiated coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Friday, January 12th. They set a “buy” rating and a $20.00 price objective for the company. Zacks Investment Research upgraded shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Jefferies Group initiated coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Monday, December 18th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Evercore ISI initiated coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Monday, November 20th. They set an “outperform” rating and a $15.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) has a consensus rating of “Buy” and a consensus target price of $15.86.

In other Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) news, major shareholder Cayman Gp Ltd. Ccp II sold 320,462 shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $13.11, for a total transaction of $4,201,256.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GNK. Schwab Charles Investment Management Inc. acquired a new stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the second quarter valued at about $194,000. Bank of New York Mellon Corp increased its position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 240.3% during the second quarter. Bank of New York Mellon Corp now owns 37,093 shares of the shipping company’s stock valued at $351,000 after acquiring an additional 26,194 shares during the last quarter. Teachers Advisors LLC acquired a new stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the second quarter valued at about $141,000. TIAA CREF Investment Management LLC acquired a new stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the second quarter valued at about $566,000. Finally, Citigroup Inc. increased its position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 0.4% during the second quarter. Citigroup Inc. now owns 13,652 shares of the shipping company’s stock valued at $129,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 57.31% of the company’s stock.

Genco Shipping & Trading Limited Ordinary Shares New (GNK) traded down $0.11 on Friday, reaching $11.99. 5,255 shares of the company’s stock traded hands, compared to its average volume of 105,816. The stock has a market capitalization of $434.76, a P/E ratio of -2.35 and a beta of 0.19. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52. Genco Shipping & Trading Limited Ordinary Shares New has a fifty-two week low of $8.47 and a fifty-two week high of $15.17.

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About Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands)

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.

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