Genco Shipping & Trading (NYSE:GNK) Stock Rating Lowered by Zacks Research

by · The Cerbat Gem

Genco Shipping & Trading (NYSE:GNK – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

GNK has been the topic of several other research reports. Alliance Global Partners reaffirmed a “neutral” rating on shares of Genco Shipping & Trading in a research note on Wednesday, June 17th. Weiss Ratings upgraded shares of Genco Shipping & Trading from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. B. Riley Financial restated a “buy” rating on shares of Genco Shipping & Trading in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $29.00 target price on shares of Genco Shipping & Trading in a report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.00.

Check Out Our Latest Analysis on GNK

Genco Shipping & Trading Trading Down 0.7%

NYSE GNK opened at $26.02 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.97 and a quick ratio of 2.41. Genco Shipping & Trading has a 12 month low of $15.55 and a 12 month high of $27.25. The company’s fifty day moving average price is $25.00 and its two-hundred day moving average price is $23.90. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 3.03 and a beta of 0.94.

Genco Shipping & Trading (NYSE:GNK – Get Free Report) last released its earnings results on Wednesday, August 5th. The shipping company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. The firm had revenue of $136.41 million during the quarter, compared to analyst estimates of $90.59 million. Genco Shipping & Trading had a net margin of 9.15% and a return on equity of 6.46%. The firm’s revenue for the quarter was up 68.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. As a group, research analysts predict that Genco Shipping & Trading will post 2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XY Capital Ltd acquired a new stake in shares of Genco Shipping & Trading in the 4th quarter valued at $425,000. Hsbc Holdings PLC bought a new position in Genco Shipping & Trading during the 1st quarter valued at about $2,552,000. Arrowstreet Capital Limited Partnership boosted its position in Genco Shipping & Trading by 56.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 286,568 shares of the shipping company’s stock valued at $6,462,000 after buying an additional 102,868 shares in the last quarter. UBS Group AG grew its stake in Genco Shipping & Trading by 33.3% during the fourth quarter. UBS Group AG now owns 153,263 shares of the shipping company’s stock worth $2,825,000 after buying an additional 38,310 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of Genco Shipping & Trading by 104.8% in the first quarter. Quantinno Capital Management LP now owns 56,860 shares of the shipping company’s stock valued at $1,282,000 after acquiring an additional 29,098 shares during the last quarter. Institutional investors own 58.62% of the company’s stock.

About Genco Shipping & Trading

(Get Free Report)

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.

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