Genco Shipping & Trading (GNK) Set to Announce Earnings on Wednesday

Genco Shipping & Trading (NYSE:GNK) will be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Genco Shipping & Trading to post earnings of $0.43 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, February 21st. The shipping company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Genco Shipping & Trading had a negative net margin of 3.35% and a positive return on equity of 3.10%. The company had revenue of $115.50 million during the quarter, compared to analyst estimates of $72.54 million. During the same quarter last year, the business posted $0.67 EPS. Genco Shipping & Trading’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, analysts expect Genco Shipping & Trading to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Genco Shipping & Trading Stock Down 0.4 %

Genco Shipping & Trading stock opened at $21.34 on Wednesday. Genco Shipping & Trading has a 1-year low of $12.39 and a 1-year high of $21.61. The firm has a market capitalization of $912.29 million, a price-to-earnings ratio of -68.84 and a beta of 1.18. The company has a current ratio of 4.46, a quick ratio of 3.70 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $20.41 and a 200 day simple moving average of $17.32.

Genco Shipping & Trading Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.41 per share. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.15. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date was Tuesday, March 5th. Genco Shipping & Trading’s payout ratio is currently -529.03%.

Insider Activity at Genco Shipping & Trading

In related news, CAO Joseph Adamo sold 6,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.87, for a total transaction of $119,220.00. Following the transaction, the chief accounting officer now owns 17,202 shares in the company, valued at $341,803.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Genco Shipping & Trading news, CAO Joseph Adamo sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.87, for a total transaction of $119,220.00. Following the completion of the sale, the chief accounting officer now directly owns 17,202 shares of the company’s stock, valued at $341,803.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jesper Christensen sold 12,404 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $245,599.20. Following the sale, the insider now directly owns 42,587 shares of the company’s stock, valued at $843,222.60. The disclosure for this sale can be found here. Insiders have sold a total of 62,496 shares of company stock worth $1,238,678 over the last quarter. Company insiders own 2.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on GNK shares. StockNews.com cut shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. TheStreet upgraded shares of Genco Shipping & Trading from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. BTIG Research reiterated a “neutral” rating on shares of Genco Shipping & Trading in a research report on Friday, January 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.