Genco Shipping & Trading Limited (NYSE:GNK) declared a None dividend on Wednesday, November 6th, Zacks reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.50 per share by the shipping company on Thursday, December 5th. The ex-dividend date of this dividend is Wednesday, November 20th.
NYSE GNK opened at $10.86 on Tuesday. Genco Shipping & Trading has a fifty-two week low of $6.83 and a fifty-two week high of $11.82. The stock has a market cap of $454.71 million, a price-to-earnings ratio of 16.97 and a beta of 1.06. The business has a fifty day moving average of $10.27 and a 200-day moving average of $9.27. The company has a quick ratio of 1.83, a current ratio of 2.02 and a debt-to-equity ratio of 0.45.
A number of research firms have recently weighed in on GNK. Zacks Investment Research cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. ValuEngine cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Noble Financial reiterated a “buy” rating and issued a $18.00 target price on shares of Genco Shipping & Trading in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $14.90.
In related news, Director Strategic Value Partners, Llc sold 2,000,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.00, for a total value of $20,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.32% of the company’s stock.
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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