ValuEngine Lowers Genco Shipping & Trading (NYSE:GNK) to Hold

ValuEngine cut shares of Genco Shipping & Trading (NYSE:GNK) from a buy rating to a hold rating in a report released on Wednesday, ValuEngine reports.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Genco Shipping & Trading from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Thursday, July 25th. B. Riley set a $15.00 price objective on Genco Shipping & Trading and gave the company a buy rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Genco Shipping & Trading presently has an average rating of Hold and an average price target of $14.90.

NYSE GNK traded down $0.12 during mid-day trading on Wednesday, reaching $9.11. 192,542 shares of the company’s stock traded hands, compared to its average volume of 259,712. Genco Shipping & Trading has a 1-year low of $6.83 and a 1-year high of $15.06. The firm’s fifty day simple moving average is $9.28. The company has a current ratio of 2.48, a quick ratio of 2.18 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $400.74 million, a P/E ratio of 14.23 and a beta of 1.06.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, May 8th. The shipping company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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. Equities analysts expect that Genco Shipping & Trading will post -0.11 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Genco Shipping & Trading by 19.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 887,739 shares of the shipping company’s stock worth $7,004,000 after acquiring an additional 144,439 shares in the last quarter. BlackRock Inc. grew its position in shares of Genco Shipping & Trading by 11.8% in the 4th quarter. BlackRock Inc. now owns 694,797 shares of the shipping company’s stock worth $5,483,000 after acquiring an additional 73,466 shares in the last quarter. Deutsche Bank AG grew its position in shares of Genco Shipping & Trading by 307.0% in the 4th quarter. Deutsche Bank AG now owns 191,794 shares of the shipping company’s stock worth $1,512,000 after acquiring an additional 144,665 shares in the last quarter. Northern Trust Corp grew its position in shares of Genco Shipping & Trading by 2.7% in the 4th quarter. Northern Trust Corp now owns 123,579 shares of the shipping company’s stock worth $975,000 after acquiring an additional 3,298 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Genco Shipping & Trading by 35.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 94,253 shares of the shipping company’s stock worth $744,000 after acquiring an additional 24,657 shares in the last quarter. Institutional investors own 83.26% 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 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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