Analysts Expect Genco Shipping & Trading Limited (GNK) to Post -$0.37 Earnings Per Share

Equities research analysts predict that Genco Shipping & Trading Limited (NYSE:GNK) will announce ($0.37) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Genco Shipping & Trading’s earnings. The lowest EPS estimate is ($0.49) and the highest is ($0.24). Genco Shipping & Trading reported earnings per share of $0.10 during the same quarter last year, which indicates a negative year over year growth rate of 470%. The firm is scheduled to report its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that Genco Shipping & Trading will report full-year earnings of ($0.20) per share for the current financial year, with EPS estimates ranging from ($0.71) to $0.20. For the next financial year, analysts forecast that the business will post earnings of $1.03 per share, with EPS estimates ranging from ($0.03) to $2.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Genco Shipping & Trading.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, May 8th. The shipping company reported ($0.20) EPS for the quarter, missing the 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 analyst estimates of $52.90 million.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Noble Financial reaffirmed a “buy” rating and set a $18.00 target price on shares of Genco Shipping & Trading in a report on Thursday, March 7th. ValuEngine lowered shares of Genco Shipping & Trading from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. B. Riley set a $15.00 target price on shares of Genco Shipping & Trading and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Maxim Group cut their target price on shares of Genco Shipping & Trading from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $14.70.

NYSE GNK traded down $0.36 on Thursday, hitting $8.13. 158,602 shares of the company’s stock traded hands, compared to its average volume of 222,069. The company has a current ratio of 2.48, a quick ratio of 2.36 and a debt-to-equity ratio of 0.44. Genco Shipping & Trading has a 1-year low of $6.83 and a 1-year high of $20.07. The stock has a market cap of $338.67 million, a price-to-earnings ratio of 12.70 and a beta of 0.63.

Large investors have recently bought and sold shares of the company. Fifth Third Bancorp purchased a new stake in Genco Shipping & Trading in the 1st quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Genco Shipping & Trading in the 4th quarter worth $34,000. Mackenzie Financial Corp purchased a new stake in Genco Shipping & Trading in the 4th quarter worth $95,000. Parametric Portfolio Associates LLC purchased a new stake in Genco Shipping & Trading in the 1st quarter worth $91,000. Finally, Rhumbline Advisers purchased a new stake in Genco Shipping & Trading in the 4th quarter worth $102,000. 86.04% 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 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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Earnings History and Estimates for Genco Shipping & Trading (NYSE:GNK)

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