Genco Shipping & Trading (GNK) Receives Average Rating of “Buy” from Analysts

Genco Shipping & Trading (NYSE:GNK) has been assigned an average recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $17.60.

GNK has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Genco Shipping & Trading 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 in a research report on Monday, December 18th. They set a “buy” rating and a $20.00 target price on the stock. TheStreet upgraded shares of Genco Shipping & Trading from a “d” rating to a “c-” rating in a research report on Wednesday, February 28th. Noble Financial initiated coverage on shares of Genco Shipping & Trading in a research report on Friday, January 12th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Seaport Global Securities set a $18.00 target price on shares of Genco Shipping & Trading and gave the stock a “buy” rating in a research report on Wednesday, February 28th.

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Shares of NYSE GNK opened at $14.33 on Friday. Genco Shipping & Trading has a 1 year low of $8.47 and a 1 year high of $16.29. The company has a market cap of $494.84, a P/E ratio of -11.11 and a beta of -0.08. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.51.

Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Tuesday, February 27th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.10. Genco Shipping & Trading had a negative net margin of 28.00% and a negative return on equity of 4.49%. The firm had revenue of $74.92 million for the quarter, compared to analyst estimates of $58.10 million. sell-side analysts anticipate that Genco Shipping & Trading will post 0.61 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in GNK. California State Teachers Retirement System acquired a new position in shares of Genco Shipping & Trading in the 2nd quarter valued at $129,000. Virtu Financial LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $145,000. Wells Fargo & Company MN boosted its holdings in shares of Genco Shipping & Trading by 2,064.0% in the 4th quarter. Wells Fargo & Company MN now owns 11,599 shares of the shipping company’s stock valued at $154,000 after purchasing an additional 11,063 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $163,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $282,000. Institutional investors own 86.72% of the company’s stock.

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Genco Shipping & Trading Company Profile

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.

Analyst Recommendations for Genco Shipping & Trading (NYSE:GNK)

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