Genco Shipping & Trading (GNK) Scheduled to Post Quarterly Earnings on Wednesday

Genco Shipping & Trading (NYSE:GNK) will issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The firm had revenue of $107.00 million during the quarter, compared to the consensus estimate of $74.86 million. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS. 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 Up 1.0 %

GNK opened at $15.81 on Wednesday. The business has a 50 day moving average price of $17.49 and a two-hundred day moving average price of $19.67. The company has a quick ratio of 2.94, a current ratio of 3.59 and a debt-to-equity ratio of 0.10. The company has a market cap of $676.00 million, a PE ratio of 263.50, a P/E/G ratio of 0.23 and a beta of 0.95. Genco Shipping & Trading has a 52 week low of $12.65 and a 52 week high of $23.43.

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 8.60%. The ex-dividend date was Monday, August 19th. Genco Shipping & Trading’s dividend payout ratio is presently 2,266.67%.

Analyst Ratings Changes

GNK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Genco Shipping & Trading in a research note on Wednesday, September 4th. They set a “buy” rating and a $22.00 price objective for the company. Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their target price for the stock from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.60.

About Genco Shipping & Trading

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.