Genco Shipping & Trading (NYSE:GNK) Posts Earnings Results, Beats Expectations By $0.01 EPS

by · The Markets Daily

Genco Shipping & Trading (NYSE:GNK – Get Free Report) released its earnings results on Tuesday. The shipping company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01, Zacks reports. Genco Shipping & Trading had a negative return on equity of 0.62% and a negative net margin of 2.14%.

Genco Shipping & Trading Stock Performance

Shares of NYSE:GNK traded up $0.30 during trading on Tuesday, hitting $22.51. 360,460 shares of the stock traded hands, compared to its average volume of 351,432. The company has a quick ratio of 1.98, a current ratio of 2.36 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average price of $19.55 and a two-hundred day moving average price of $18.10. Genco Shipping & Trading has a 52-week low of $11.20 and a 52-week high of $22.65. The company has a market cap of $973.33 million, a price-to-earnings ratio of -132.41, a P/E/G ratio of 5.99 and a beta of 1.21.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genco Shipping & Trading in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $21.00.

View Our Latest Research Report on GNK

Institutional Investors Weigh In On Genco Shipping & Trading

Several hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in Genco Shipping & Trading in the 3rd quarter valued at $30,000. Kemnay Advisory Services Inc. purchased a new position in shares of Genco Shipping & Trading in the fourth quarter worth about $32,000. Sunbelt Securities Inc. purchased a new position in shares of Genco Shipping & Trading in the third quarter worth about $35,000. PNC Financial Services Group Inc. boosted its position in Genco Shipping & Trading by 58.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,073 shares of the shipping company’s stock worth $55,000 after acquiring an additional 1,131 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in Genco Shipping & Trading during the 3rd quarter valued at about $64,000. 58.62% of the stock is owned by hedge funds and other institutional investors.

Genco Shipping & Trading Company Profile

(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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