Genco Shipping & Trading (NYSE:GNK) Raised to “Hold” at Wall Street Zen

Genco Shipping & Trading (NYSE:GNK) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

GNK has been the subject of several other reports. B. Riley Financial reaffirmed a “buy” rating on shares of Genco Shipping & Trading in a research report on Friday, August 7th. Weiss Ratings lowered Genco Shipping & Trading from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. BTIG Research dropped coverage on Genco Shipping & Trading in a research report on Friday, September 18th. They set a “neutral” rating on the stock. Finally, Zacks Research cut Genco Shipping & Trading from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Genco Shipping & Trading presently has an average rating of “Hold” and a consensus target price of $29.00.

Genco Shipping & Trading Stock Performance

Shares of GNK stock opened at $26.03 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.12 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $26.34 and a 200 day moving average price of $24.44. The company has a market cap of $1.13 billion, a P/E ratio of 14.62, a PEG ratio of 2.81 and a beta of 1.08. Genco Shipping & Trading has a 12 month low of $16.42 and a 12 month high of $28.42.

Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Wednesday, November 4th. The shipping company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). Genco Shipping & Trading had a net margin of 15.48% and a return on equity of 10.88%. The business had revenue of $151.85 million during the quarter, compared to analysts’ expectations of $105.04 million. During the same period last year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 90.0% compared to the same quarter last year. Sell-side analysts predict that Genco Shipping & Trading will post 2.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genco Shipping & Trading

Institutional investors and hedge funds have recently bought and sold shares of the stock. Unison Advisors LLC lifted its holdings in shares of Genco Shipping & Trading by 1.4% in the 3rd quarter. Unison Advisors LLC now owns 39,619 shares of the shipping company’s stock valued at $1,036,000 after purchasing an additional 535 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Genco Shipping & Trading by 77.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,012 shares of the shipping company’s stock valued at $79,000 after purchasing an additional 1,310 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Genco Shipping & Trading during the 2nd quarter worth approximately $35,000. Parallel Advisors LLC grew its stake in Genco Shipping & Trading by 114.1% during the 3rd quarter. Parallel Advisors LLC now owns 3,550 shares of the shipping company’s stock worth $93,000 after buying an additional 1,892 shares during the last quarter. Finally, Fortitude Family Office LLC grew its stake in Genco Shipping & Trading by 697.2% during the 3rd quarter. Fortitude Family Office LLC now owns 2,280 shares of the shipping company’s stock worth $60,000 after buying an additional 1,994 shares during the last quarter. 58.62% of the stock is owned by hedge funds and other institutional investors.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited (NYSE:GNK) is a drybulk shipping company that owns and operates a fleet of oceangoing vessels. The company transports essential commodities, including iron ore, grain, coal and other major and minor bulk cargoes, for customers around the world.

Genco’s fleet includes large Capesize vessels as well as Ultramax, Supramax and Handysize ships. These vessels serve different segments of the drybulk market and support the movement of raw materials used in energy production, agriculture, construction and industrial manufacturing.

Founded in 1997 and headquartered in New York, Genco serves international trade routes across major global commodity markets.