Genco Shipping & Trading (NYSE:GNK) Earns Neutral Rating from BTIG Research

Genco Shipping & Trading (NYSE:GNK)‘s stock had its “neutral” rating reaffirmed by equities researchers at BTIG Research in a note issued to investors on Friday, Benzinga reports.

Several other research analysts have also commented on GNK. Zacks Research lowered shares of Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Weiss Ratings cut shares of Genco Shipping & Trading from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. B. Riley Financial reaffirmed a “buy” rating on shares of Genco Shipping & Trading in a research report on Friday, August 7th. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of Genco Shipping & Trading in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

Genco Shipping & Trading Stock Performance

Shares of GNK stock opened at $27.94 on Friday. Genco Shipping & Trading has a one year low of $15.55 and a one year high of $28.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.41 and a current ratio of 2.97. The firm’s 50 day moving average price is $26.14 and its 200-day moving average price is $24.57. The firm has a market cap of $1.22 billion, a P/E ratio of 30.71, a P/E/G ratio of 3.23 and a beta of 0.93.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, August 5th. The shipping company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. Genco Shipping & Trading had a return on equity of 6.46% and a net margin of 9.15%.The business had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $90.59 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue was up 68.5% on a year-over-year basis. As a group, equities research analysts predict that Genco Shipping & Trading will post 2.25 EPS for the current year.

Institutional Trading of Genco Shipping & Trading

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of Genco Shipping & Trading by 230.1% in the 1st quarter. Blue Trust Inc. now owns 1,347 shares of the shipping company’s stock valued at $30,000 after buying an additional 939 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Genco Shipping & Trading in the second quarter valued at $35,000. Global Trust Asset Management LLC purchased a new position in shares of Genco Shipping & Trading during the first quarter worth about $45,000. Summit Securities Group LLC purchased a new position in shares of Genco Shipping & Trading during the first quarter worth about $63,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Genco Shipping & Trading during the first quarter worth about $234,000. Institutional investors and hedge funds own 58.62% of the company’s stock.

About Genco Shipping & Trading

Genco Shipping & Trading Limited (NYSE: GNK) is a global drybulk shipping company that owns and operates vessels used to transport essential commodities. Its cargoes include iron ore, coal, grain and other raw materials that support industrial and agricultural supply chains.

The company operates a diversified fleet of large Capesize vessels and smaller Ultramax and Supramax vessels. This range of ship sizes enables Genco to serve different cargo requirements and trade routes across major international markets, including the Atlantic and Pacific basins.

Founded in 1997 and headquartered in New York City, Genco manages its fleet through a combination of in-house commercial and technical capabilities.