Genco Shipping & Trading Limited (GNK) Receives Average Rating of “Hold” from Analysts

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Genco Shipping & Trading Limited (NYSE:GNK) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $15.63.

Several equities research analysts have recently commented on GNK shares. ValuEngine cut Genco Shipping & Trading from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Maxim Group decreased their price objective on Genco Shipping & Trading from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Morgan Stanley lifted their price objective on Genco Shipping & Trading from $9.00 to $9.50 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Zacks Investment Research cut Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Finally, Noble Financial reaffirmed a “buy” rating and set a $18.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, March 7th.

Several institutional investors have recently made changes to their positions in GNK. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth $34,000. Mackenzie Financial Corp acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth $95,000. Rhumbline Advisers acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth $102,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Genco Shipping & Trading during the third quarter worth $182,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Genco Shipping & Trading during the third quarter worth $191,000. 85.77% of the stock is owned by institutional investors and hedge funds.

GNK traded up $0.37 during trading on Thursday, hitting $9.18. The company’s stock had a trading volume of 11,416 shares, compared to its average volume of 205,467. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.36 and a current ratio of 2.65. Genco Shipping & Trading has a 12 month low of $6.83 and a 12 month high of $20.07. The company has a market cap of $350.15 million, a price-to-earnings ratio of 14.31 and a beta of 0.42.

Genco Shipping & Trading (NYSE:GNK) last released its earnings results on Tuesday, March 5th. The shipping company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.12. Genco Shipping & Trading had a positive return on equity of 2.44% and a negative net margin of 8.96%. As a group, research analysts predict that Genco Shipping & Trading will post 0.22 EPS for the current fiscal year.

About Genco Shipping & Trading

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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