Brokerages Set Genco Shipping & Trading Limited (GNK) PT at $15.63

Genco Shipping & Trading Limited (NYSE:GNK) has been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.63.

A number of brokerages recently commented on GNK. Zacks Investment Research upgraded Genco Shipping & Trading from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday, January 9th. ValuEngine downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Noble Financial restated a “buy” rating and issued a $18.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, March 7th. Maxim Group started coverage on Genco Shipping & Trading in a research report on Thursday, January 3rd. They issued a “buy” rating and a $22.00 target price on the stock. Finally, B. Riley set a $15.00 target price on Genco Shipping & Trading and gave the company a “buy” rating in a research report on Wednesday, April 10th.

Large investors have recently bought and sold shares of the business. Northern Trust Corp grew its stake in shares of Genco Shipping & Trading by 2.7% in the fourth quarter. Northern Trust Corp now owns 123,579 shares of the shipping company’s stock valued at $975,000 after buying an additional 3,298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at $34,000. Bank of New York Mellon Corp grew its stake in shares of Genco Shipping & Trading by 24.4% in the fourth quarter. Bank of New York Mellon Corp now owns 46,455 shares of the shipping company’s stock valued at $367,000 after buying an additional 9,112 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at $95,000. Finally, Rhumbline Advisers acquired a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at $102,000. Institutional investors own 85.77% of the company’s stock.

Shares of Genco Shipping & Trading stock opened at $8.67 on Thursday. Genco Shipping & Trading has a one year low of $6.83 and a one year high of $20.07. The company has a market cap of $361.17 million, a P/E ratio of 13.55 and a beta of 0.42. The company has a current ratio of 2.65, a quick ratio of 2.36 and a debt-to-equity ratio of 0.45.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Tuesday, March 5th. The shipping company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.12. Genco Shipping & Trading had a positive return on equity of 2.44% and a negative net margin of 8.96%. On average, research analysts predict that Genco Shipping & Trading will post 0.22 earnings per share for the current 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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