Genco Shipping & Trading Limited (NYSE:GNK) Given Average Recommendation of “Hold” by Brokerages

Genco Shipping & Trading Limited (NYSE:GNK) has received an average rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.63.

A number of equities analysts recently commented on GNK shares. ValuEngine lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Noble Financial set a $18.00 price objective on shares of Genco Shipping & Trading and gave the stock a “buy” rating in a research note on Friday, August 9th.

Genco Shipping & Trading stock traded down $0.20 during midday trading on Friday, reaching $9.56. The stock had a trading volume of 191,559 shares, compared to its average volume of 238,586. The firm’s fifty day simple moving average is $9.17 and its two-hundred day simple moving average is $8.74. Genco Shipping & Trading has a twelve month low of $6.83 and a twelve month high of $15.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 1.75. The firm has a market cap of $406.57 million, a price-to-earnings ratio of 14.94 and a beta of 1.05.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings data on Wednesday, August 7th. The shipping company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.08). Genco Shipping & Trading had a negative return on equity of 0.80% and a negative net margin of 4.79%. The firm had revenue of $41.75 million during the quarter, compared to analyst estimates of $39.92 million. As a group, sell-side analysts predict that Genco Shipping & Trading will post -0.35 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Genco Shipping & Trading during the 2nd quarter valued at $452,000. Aperio Group LLC acquired a new stake in shares of Genco Shipping & Trading during the 2nd quarter valued at $28,000. Dimensional Fund Advisors LP boosted its stake in shares of Genco Shipping & Trading by 19.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 887,739 shares of the shipping company’s stock valued at $7,004,000 after buying an additional 144,439 shares during the period. Prudential Financial Inc. boosted its stake in shares of Genco Shipping & Trading by 72.6% during the 2nd quarter. Prudential Financial Inc. now owns 78,445 shares of the shipping company’s stock valued at $662,000 after buying an additional 33,000 shares during the period. Finally, Mraz Amerine & Associates Inc. acquired a new stake in shares of Genco Shipping & Trading during the 1st quarter valued at $188,000. 83.29% of the stock is owned by institutional investors.

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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