Genco Shipping & Trading Limited (NYSE:GNK – Free Report) – Research analysts at B. Riley cut their Q4 2024 earnings per share (EPS) estimates for shares of Genco Shipping & Trading in a research report issued on Tuesday, January 28th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of $0.15 per share for the quarter, down from their previous forecast of $0.34. The consensus estimate for Genco Shipping & Trading’s current full-year earnings is $1.75 per share. B. Riley also issued estimates for Genco Shipping & Trading’s FY2025 earnings at $0.04 EPS.
A number of other research firms also recently weighed in on GNK. StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Jefferies Financial Group restated a “buy” rating and set a $25.00 target price on shares of Genco Shipping & Trading in a report on Thursday, November 7th. Finally, Stifel Nicolaus downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their target price for the company from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Genco Shipping & Trading currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.
Genco Shipping & Trading Stock Up 0.4 %
NYSE:GNK opened at $14.65 on Thursday. The stock has a 50-day simple moving average of $14.68 and a 200 day simple moving average of $16.71. Genco Shipping & Trading has a 52-week low of $13.51 and a 52-week high of $23.43. The company has a market cap of $626.22 million, a PE ratio of 9.33, a PEG ratio of 0.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09.
Genco Shipping & Trading (NYSE:GNK – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $99.33 million during the quarter, compared to analysts’ expectations of $72.02 million. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share.
Genco Shipping & Trading Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.93%. The ex-dividend date of this dividend was Monday, November 18th. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.34. Genco Shipping & Trading’s dividend payout ratio (DPR) is 101.91%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its holdings in Genco Shipping & Trading by 2.7% during the fourth quarter. Rhumbline Advisers now owns 68,136 shares of the shipping company’s stock worth $950,000 after purchasing an additional 1,800 shares during the period. Empowered Funds LLC boosted its stake in shares of Genco Shipping & Trading by 5.1% during the 4th quarter. Empowered Funds LLC now owns 268,861 shares of the shipping company’s stock worth $3,748,000 after acquiring an additional 13,086 shares during the period. Verity Asset Management Inc. acquired a new position in shares of Genco Shipping & Trading during the 4th quarter worth approximately $226,000. R Squared Ltd bought a new stake in Genco Shipping & Trading in the 4th quarter valued at $29,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Genco Shipping & Trading during the 4th quarter valued at $220,000. 58.62% of the stock is currently owned by institutional investors and hedge funds.
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.
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