Genco Shipping & Trading Limited (NYSE:GNK) Receives $15.63 Average PT from Analysts

Genco Shipping & Trading Limited (NYSE:GNK) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $15.63.

GNK has been the topic of several recent analyst reports. ValuEngine upgraded shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Morgan Stanley lifted their price target on shares of Genco Shipping & Trading from $9.00 to $9.50 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Maxim Group reduced their price target on shares of Genco Shipping & Trading from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. B. Riley set a $15.00 price target on shares of Genco Shipping & Trading and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Zacks Investment Research upgraded shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Thursday, March 7th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley grew its position in Genco Shipping & Trading by 209.7% in the third quarter. Morgan Stanley now owns 211,007 shares of the shipping company’s stock worth $2,954,000 after acquiring an additional 142,874 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Genco Shipping & Trading by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 239,344 shares of the shipping company’s stock worth $3,351,000 after buying an additional 16,585 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Genco Shipping & Trading by 7.4% in the 3rd quarter. Vanguard Group Inc now owns 239,344 shares of the shipping company’s stock worth $3,351,000 after buying an additional 16,585 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Genco Shipping & Trading in the 4th quarter worth $34,000. Finally, Rhumbline Advisers purchased a new position in shares of Genco Shipping & Trading in the 4th quarter worth $102,000. Institutional investors own 83.26% of the company’s stock.

GNK traded down $0.24 during trading on Friday, hitting $7.30. The company’s stock had a trading volume of 1,511 shares, compared to its average volume of 211,980. The company has a current ratio of 2.48, a quick ratio of 2.18 and a debt-to-equity ratio of 0.44. Genco Shipping & Trading has a one year low of $6.83 and a one year high of $19.52. The company has a market capitalization of $309.95 million, a PE ratio of 11.47 and a beta of 0.88.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, May 8th. The shipping company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.05). Genco Shipping & Trading had a return on equity of 1.51% and a net margin of 3.92%. The business had revenue of $50.44 million during the quarter, compared to the consensus estimate of $52.90 million. Equities analysts forecast that Genco Shipping & Trading will post -0.2 earnings per share for the current fiscal year.

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 ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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