Genco Shipping & Trading (NYSE:GNK) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday.
Other equities analysts also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of Genco Shipping & Trading from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Zacks Investment Research downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Seaport Global Securities set a $18.00 price objective on shares of Genco Shipping & Trading and gave the company a “buy” rating in a research note on Wednesday, February 28th. TheStreet raised shares of Genco Shipping & Trading from a “d” rating to a “c-” rating in a research note on Wednesday, February 28th. Finally, Noble Financial assumed coverage on shares of Genco Shipping & Trading in a research note on Friday, January 12th. They set a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Genco Shipping & Trading currently has an average rating of “Hold” and a consensus price target of $17.50.
NYSE GNK traded down $0.21 during trading on Monday, hitting $14.12. 91,797 shares of the company’s stock traded hands, compared to its average volume of 116,855. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.51. Genco Shipping & Trading has a 12-month low of $8.47 and a 12-month high of $16.29. The firm has a market cap of $494.84, a price-to-earnings ratio of -10.95 and a beta of -0.08.
Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings results on Tuesday, February 27th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $74.92 million during the quarter, compared to analyst estimates of $58.10 million. equities analysts expect that Genco Shipping & Trading will post 0.61 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in GNK. California State Teachers Retirement System bought a new position in Genco Shipping & Trading in the second quarter worth about $129,000. Virtu Financial LLC bought a new position in Genco Shipping & Trading in the fourth quarter worth about $145,000. Wells Fargo & Company MN raised its stake in Genco Shipping & Trading by 2,064.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,599 shares of the shipping company’s stock worth $154,000 after buying an additional 11,063 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in Genco Shipping & Trading in the fourth quarter worth about $163,000. Finally, Two Sigma Advisers LP bought a new position in Genco Shipping & Trading in the fourth quarter worth about $282,000. 86.72% of the stock is owned by institutional investors.
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About Genco Shipping & Trading
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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