Grindrod Shipping (NASDAQ:GRIN) Issues Quarterly Earnings Results

Grindrod Shipping (NASDAQ:GRINGet Rating) announced its quarterly earnings results on Tuesday. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.36 by $0.20, MarketWatch Earnings reports. Grindrod Shipping had a net margin of 23.38% and a return on equity of 41.13%. During the same quarter last year, the business posted $0.12 EPS.

Grindrod Shipping stock traded up $0.73 during mid-day trading on Thursday, reaching $25.78. The company had a trading volume of 241 shares, compared to its average volume of 457,610. The company has a quick ratio of 1.47, a current ratio of 1.61 and a debt-to-equity ratio of 0.70. Grindrod Shipping has a 52 week low of $7.99 and a 52 week high of $28.98. The company has a 50 day moving average of $25.03 and a 200-day moving average of $20.33. The firm has a market cap of $496.27 million, a price-to-earnings ratio of 4.19 and a beta of 0.80.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Shareholders of record on Friday, June 10th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date is Thursday, June 9th. Grindrod Shipping’s dividend payout ratio (DPR) is presently 48.16%.

Several brokerages have recently commented on GRIN. Jefferies Financial Group began coverage on shares of Grindrod Shipping in a research note on Wednesday, April 27th. They set a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded shares of Grindrod Shipping from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, February 23rd. Finally, TheStreet upgraded shares of Grindrod Shipping from a “d+” rating to a “c+” rating in a research note on Monday, April 18th.

A number of institutional investors have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of Grindrod Shipping during the 1st quarter worth about $35,000. Captrust Financial Advisors bought a new position in shares of Grindrod Shipping during the 1st quarter worth about $38,000. Barclays PLC lifted its holdings in shares of Grindrod Shipping by 178.6% during the 4th quarter. Barclays PLC now owns 1,950 shares of the company’s stock worth $35,000 after acquiring an additional 1,250 shares during the period. BlackRock Inc. bought a new position in shares of Grindrod Shipping during the 1st quarter worth about $109,000. Finally, Virtu Financial LLC bought a new position in Grindrod Shipping during the 1st quarter valued at about $204,000. 32.90% of the stock is owned by hedge funds and other institutional investors.

About Grindrod Shipping (Get Rating)

Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters-in, and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term chartered-in dry bulk carriers that transport a range of bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers.

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