Wall Street brokerages forecast that Genco Shipping & Trading Limited (NYSE:GNK) will post earnings of $0.13 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Genco Shipping & Trading’s earnings, with estimates ranging from $0.06 to $0.21. Genco Shipping & Trading posted earnings per share of ($0.36) in the same quarter last year, which would suggest a positive year over year growth rate of 136.1%. The firm is scheduled to issue its next earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Genco Shipping & Trading will report full-year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.55 to $1.16. For the next year, analysts anticipate that the business will post earnings of $1.41 per share, with EPS estimates ranging from $0.60 to $2.05. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Genco Shipping & Trading.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, August 8th. The shipping company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Genco Shipping & Trading had a negative net margin of 29.58% and a negative return on equity of 0.59%. The company had revenue of $86.16 million during the quarter, compared to the consensus estimate of $59.97 million.

GNK has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. ValuEngine cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Noble Financial set a $24.00 target price on shares of Genco Shipping & Trading and gave the stock a “buy” rating in a research note on Thursday, July 19th. B. Riley assumed coverage on shares of Genco Shipping & Trading in a research note on Thursday, October 4th. They set a “buy” rating and a $22.00 target price for the company. Finally, MED restated a “reduce” rating on shares of Genco Shipping & Trading in a research note on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $18.81.

Shares of GNK traded down $0.01 during midday trading on Friday, reaching $12.35. The stock had a trading volume of 7,529 shares, compared to its average volume of 189,287. Genco Shipping & Trading has a one year low of $9.75 and a one year high of $20.07. The company has a market cap of $506.04 million, a PE ratio of -9.57 and a beta of -0.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.14 and a quick ratio of 3.85.

In other Genco Shipping & Trading news, CEO John C. Wobensmith sold 20,817 shares of Genco Shipping & Trading stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $12.24, for a total value of $254,800.08. Following the completion of the sale, the chief executive officer now owns 267,142 shares in the company, valued at approximately $3,269,818.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John C. Wobensmith sold 12,210 shares of Genco Shipping & Trading stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $12.73, for a total transaction of $155,433.30. Following the completion of the sale, the chief executive officer now owns 267,142 shares of the company’s stock, valued at approximately $3,400,717.66. The disclosure for this sale can be found here. Company insiders own 1.23% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Alambic Investment Management L.P. acquired a new stake in Genco Shipping & Trading in the 2nd quarter worth about $805,000. Royal Bank of Canada raised its position in shares of Genco Shipping & Trading by 2,887.7% in the 1st quarter. Royal Bank of Canada now owns 14,550 shares of the shipping company’s stock valued at $207,000 after buying an additional 14,063 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Genco Shipping & Trading by 507.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 24,307 shares of the shipping company’s stock valued at $376,000 after buying an additional 20,307 shares in the last quarter. EAM Investors LLC acquired a new position in shares of Genco Shipping & Trading in the 2nd quarter valued at approximately $683,000. Finally, Millennium Management LLC raised its position in shares of Genco Shipping & Trading by 391.0% in the 2nd quarter. Millennium Management LLC now owns 826,870 shares of the shipping company’s stock valued at $12,816,000 after buying an additional 658,468 shares in the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.

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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