Genco Shipping & Trading Limited (NYSE:GNK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $23.00.

GNK has been the subject of a number of recent research reports. Jefferies Financial Group lowered their price target on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 20th. StockNews.com lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th.

Insider Buying and Selling at Genco Shipping & Trading

In related news, insider Jesper Christensen sold 13,602 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $189,883.92. Following the completion of the transaction, the insider now owns 57,322 shares in the company, valued at $800,215.12. This represents a 19.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Joseph Adamo sold 6,226 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $86,914.96. Following the completion of the sale, the chief accounting officer now owns 26,829 shares of the company’s stock, valued at $374,532.84. This trade represents a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,812 shares of company stock worth $402,216. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genco Shipping & Trading

Hedge funds have recently modified their holdings of the stock. Pekin Hardy Strauss Inc. acquired a new position in shares of Genco Shipping & Trading in the third quarter worth about $812,000. Charles Schwab Investment Management Inc. lifted its position in shares of Genco Shipping & Trading by 70.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock valued at $10,345,000 after acquiring an additional 219,907 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Genco Shipping & Trading by 155.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company’s stock valued at $5,559,000 after acquiring an additional 173,270 shares in the last quarter. Barclays PLC boosted its stake in Genco Shipping & Trading by 499.7% in the 3rd quarter. Barclays PLC now owns 103,387 shares of the shipping company’s stock worth $2,016,000 after purchasing an additional 86,147 shares during the period. Finally, Townsend & Associates Inc grew its position in Genco Shipping & Trading by 2.2% during the 4th quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company’s stock worth $15,318,000 after purchasing an additional 23,101 shares in the last quarter. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Genco Shipping & Trading Stock Down 3.3 %

GNK opened at $13.83 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. Genco Shipping & Trading has a 12 month low of $13.51 and a 12 month high of $23.43. The stock has a market capitalization of $591.13 million, a P/E ratio of 7.90, a P/E/G ratio of 5.64 and a beta of 0.99. The business has a 50 day simple moving average of $14.34 and a 200-day simple moving average of $15.84.

Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The firm had revenue of $67.95 million during the quarter, compared to analyst estimates of $67.36 million. On average, equities analysts anticipate that Genco Shipping & Trading will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 8.68%. Genco Shipping & Trading’s payout ratio is currently 68.57%.

Genco Shipping & Trading Company Profile

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.