Genco Shipping & Trading (GNK) Reaches New 12-Month High and Low at $20.07

Genco Shipping & Trading (NYSE:GNK)’s share price hit a new 52-week high and low during trading on Thursday . The stock traded as low as $20.07 and last traded at $19.38, with a volume of 28377 shares traded. The stock had previously closed at $18.80.

Several equities analysts have recently commented on the stock. ValuEngine cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Zacks Investment Research raised shares of Genco Shipping & Trading from a “strong sell” rating to a “hold” rating in a research report on Friday, May 11th. Morgan Stanley reduced their price target on shares of Genco Shipping & Trading from $15.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Tuesday, April 17th. Deutsche Bank started coverage on shares of Genco Shipping & Trading in a research report on Monday, April 16th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Seaport Global Securities set a $18.00 target price on shares of Genco Shipping & Trading and gave the stock a “buy” rating in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $17.64.

The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.75 and a current ratio of 4.12. The firm has a market capitalization of $655.76 million, a PE ratio of -14.49 and a beta of 0.04.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Tuesday, May 8th. The shipping company reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. Genco Shipping & Trading had a negative net margin of 39.84% and a negative return on equity of 2.26%. The firm had revenue of $76.92 million for the quarter, compared to analysts’ expectations of $56.93 million. sell-side analysts anticipate that Genco Shipping & Trading will post 0.88 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Genco Shipping & Trading during the fourth quarter valued at approximately $145,000. Wells Fargo & Company MN raised its holdings in shares of Genco Shipping & Trading by 2,064.0% during the fourth quarter. Wells Fargo & Company MN now owns 11,599 shares of the shipping company’s stock valued at $154,000 after buying an additional 11,063 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Genco Shipping & Trading during the fourth quarter valued at approximately $163,000. Element Capital Management LLC bought a new stake in shares of Genco Shipping & Trading during the first quarter valued at approximately $187,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Genco Shipping & Trading during the first quarter valued at approximately $201,000. 89.02% of the stock is currently owned by hedge funds and other institutional investors.

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 ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, such as commodities traders; producers; and government-owned entities.

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