Genco Shipping & Trading Limited (NYSE:GNK) has been assigned a consensus recommendation of “Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $18.25.

Several analysts have issued reports on GNK shares. Zacks Investment Research raised Genco Shipping & Trading from a “strong sell” rating to a “hold” rating in a research report on Friday, May 11th. ValuEngine cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Finally, Noble Financial set a $24.00 target price on Genco Shipping & Trading and gave the company a “buy” rating in a research report on Thursday, July 19th.

Shares of NYSE GNK opened at $12.48 on Wednesday. The company has a current ratio of 4.14, a quick ratio of 3.85 and a debt-to-equity ratio of 0.39. The firm has a market cap of $521.00 million, a price-to-earnings ratio of -9.67 and a beta of 0.16. Genco Shipping & Trading has a 12-month low of $9.75 and a 12-month high of $20.07.

Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Wednesday, August 8th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $86.16 million for the quarter, compared to analysts’ expectations of $59.97 million. Genco Shipping & Trading had a negative return on equity of 0.59% and a negative net margin of 29.58%. equities research analysts expect that Genco Shipping & Trading will post 0.78 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp boosted its position in shares of Genco Shipping & Trading by 4.8% in the 1st quarter. Northern Trust Corp now owns 84,773 shares of the shipping company’s stock worth $1,205,000 after purchasing an additional 3,899 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Genco Shipping & Trading by 1,178.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,823 shares of the shipping company’s stock worth $121,000 after purchasing an additional 7,211 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Genco Shipping & Trading in the 2nd quarter worth $146,000. Schwab Charles Investment Management Inc. boosted its position in shares of Genco Shipping & Trading by 82.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 22,200 shares of the shipping company’s stock worth $316,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Genco Shipping & Trading in the 2nd quarter worth $163,000. 87.68% of the stock is owned by hedge funds and other institutional investors.

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 ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, such as commodities traders; producers; and government-owned entities.

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Analyst Recommendations for Genco Shipping & Trading (NYSE:GNK)

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