Genco Shipping & Trading (NYSE:GNK) Announces Earnings Results, Misses Expectations By $0.27 EPS

Genco Shipping & Trading (NYSE:GNK) posted its quarterly earnings data on Wednesday. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27), Zacks reports. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The firm had revenue of $67.95 million for the quarter, compared to analysts’ expectations of $67.36 million.

Genco Shipping & Trading Trading Up 0.4 %

Shares of GNK stock opened at $14.69 on Friday. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. The firm has a market cap of $627.93 million, a P/E ratio of 8.39, a PEG ratio of 5.61 and a beta of 0.97. The company has a 50 day moving average of $14.32 and a 200-day moving average of $16.15. Genco Shipping & Trading has a 12-month low of $13.51 and a 12-month high of $23.43.

Genco Shipping & Trading Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date is Tuesday, March 11th. Genco Shipping & Trading’s dividend payout ratio is currently 91.43%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group cut their target price on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Genco Shipping & Trading presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.