Shares of Genco Shipping & Trading Limited (NYSE:GNK) have been given a consensus recommendation of “Buy” by the ten research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.70.

GNK has been the subject of a number of analyst reports. Noble Financial restated a “buy” rating on shares of Genco Shipping & Trading in a research report on Thursday, October 11th. B. Riley assumed coverage on Genco Shipping & Trading in a research report on Thursday, October 4th. They set a “buy” rating and a $22.00 target price for the company. ValuEngine cut Genco Shipping & Trading from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 14th. Finally, MED reiterated a “reduce” rating on shares of Genco Shipping & Trading in a research report on Tuesday, October 9th.

Shares of GNK opened at $8.71 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.89. The stock has a market capitalization of $363.14 million, a price-to-earnings ratio of -6.75 and a beta of 0.50. Genco Shipping & Trading has a 52 week low of $8.18 and a 52 week high of $20.07.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, November 7th. The shipping company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $92.26 million during the quarter, compared to analysts’ expectations of $61.91 million. Genco Shipping & Trading had a positive return on equity of 1.11% and a negative net margin of 14.73%. As a group, research analysts anticipate that Genco Shipping & Trading will post 0.61 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNK. Northern Trust Corp grew its holdings in Genco Shipping & Trading by 4.8% during the 1st quarter. Northern Trust Corp now owns 84,773 shares of the shipping company’s stock valued at $1,205,000 after buying an additional 3,899 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Genco Shipping & Trading by 2,360.0% during the 1st quarter. JPMorgan Chase & Co. now owns 42,484 shares of the shipping company’s stock valued at $604,000 after buying an additional 40,757 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Genco Shipping & Trading by 236.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 143,903 shares of the shipping company’s stock valued at $2,046,000 after buying an additional 101,102 shares in the last quarter. Millennium Management LLC grew its holdings in Genco Shipping & Trading by 1,102.9% during the 1st quarter. Millennium Management LLC now owns 168,402 shares of the shipping company’s stock valued at $2,395,000 after buying an additional 154,402 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Genco Shipping & Trading by 2,887.7% during 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. Institutional investors and hedge funds own 86.26% of the company’s stock.

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 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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