Genco Shipping & Trading Limited (GNK) Receives $15.63 Average Price Target from Analysts

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $15.63.

GNK has been the topic of several research analyst reports. Zacks Investment Research cut Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 16th. ValuEngine cut Genco Shipping & Trading from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Morgan Stanley lifted their target price on Genco Shipping & Trading from $9.00 to $9.50 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Maxim Group lowered their target price on Genco Shipping & Trading from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Finally, Noble Financial reiterated a “buy” rating and set a $18.00 price target on shares of Genco Shipping & Trading in a report on Thursday, March 7th.

Several institutional investors have recently made changes to their positions in GNK. Fifth Third Bancorp acquired a new stake in shares of Genco Shipping & Trading during the 1st quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at about $34,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Genco Shipping & Trading during the 1st quarter valued at about $91,000. Mackenzie Financial Corp acquired a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at about $95,000. Finally, Rhumbline Advisers acquired a new stake in Genco Shipping & Trading in the 4th quarter worth approximately $102,000. Institutional investors and hedge funds own 86.04% of the company’s stock.

NYSE:GNK opened at $8.30 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.36 and a current ratio of 2.48. Genco Shipping & Trading has a fifty-two week low of $6.83 and a fifty-two week high of $20.07. The stock has a market cap of $345.78 million, a price-to-earnings ratio of 12.97 and a beta of 0.63.

Genco Shipping & Trading (NYSE:GNK) last released its earnings results on Wednesday, May 8th. The shipping company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.05). Genco Shipping & Trading had a net margin of 3.92% and a return on equity of 1.51%. The business had revenue of $50.44 million for the quarter, compared to analysts’ expectations of $52.90 million. As a group, equities analysts forecast that Genco Shipping & Trading will post -0.01 earnings per share for the current fiscal year.

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 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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