Brokerages Set Genco Shipping & Trading Limited (NYSE:GNK) Target Price at $15.63

Genco Shipping & Trading Limited (NYSE:GNK) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $15.63.

GNK has been the subject of a number of recent analyst reports. Noble Financial set a $18.00 price objective on Genco Shipping & Trading and gave the stock a “buy” rating in a research note on Friday, August 9th. Zacks Investment Research lowered Genco Shipping & Trading from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, ValuEngine raised Genco Shipping & Trading from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.

A number of institutional investors have recently made changes to their positions in the stock. Founders Capital Management boosted its stake in Genco Shipping & Trading by 100.0% during the third quarter. Founders Capital Management now owns 3,000 shares of the shipping company’s stock valued at $27,000 after buying an additional 1,500 shares during the last quarter. United Services Automobile Association boosted its stake in Genco Shipping & Trading by 14.4% during the second quarter. United Services Automobile Association now owns 16,152 shares of the shipping company’s stock valued at $136,000 after buying an additional 2,028 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in Genco Shipping & Trading by 203.0% during the second quarter. Marshall Wace North America L.P. now owns 24,605 shares of the shipping company’s stock valued at $208,000 after buying an additional 16,485 shares during the last quarter. Vanguard Group Inc. boosted its stake in Genco Shipping & Trading by 1.4% during the second quarter. Vanguard Group Inc. now owns 309,266 shares of the shipping company’s stock valued at $2,611,000 after buying an additional 4,284 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in Genco Shipping & Trading during the second quarter valued at approximately $108,000. 83.29% of the stock is owned by institutional investors.

Shares of NYSE GNK traded up $0.10 during mid-day trading on Thursday, reaching $10.37. The company’s stock had a trading volume of 330,752 shares, compared to its average volume of 167,949. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.75 and a current ratio of 2.02. The stock has a fifty day moving average of $9.58 and a two-hundred day moving average of $8.86. Genco Shipping & Trading has a 52 week low of $6.83 and a 52 week high of $13.21.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, August 7th. The shipping company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.08). The business had revenue of $41.75 million during the quarter, compared to the consensus estimate of $39.92 million. Genco Shipping & Trading had a negative return on equity of 0.80% and a negative net margin of 4.79%. As a group, equities research analysts predict that Genco Shipping & Trading will post -0.35 EPS for the current fiscal year.

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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