Genco Shipping & Trading (NYSE:GNK)‘s stock had its “buy” rating reiterated by equities researchers at Noble Financial in a research report issued on Thursday.

Other research analysts have also issued research reports about the stock. B. Riley started coverage on shares of Genco Shipping & Trading in a research note on Thursday, October 4th. They set a “buy” rating and a $22.00 price objective on the stock. ValuEngine lowered shares of Genco Shipping & Trading from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research raised shares of Genco Shipping & Trading from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, June 20th. Finally, MED reissued a “reduce” rating on shares of Genco Shipping & Trading in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Genco Shipping & Trading presently has an average rating of “Buy” and an average price target of $18.81.

Genco Shipping & Trading stock traded up $0.46 during midday trading on Thursday, hitting $12.91. 343,627 shares of the stock were exchanged, compared to its average volume of 192,771. Genco Shipping & Trading has a 52 week low of $9.75 and a 52 week high of $20.07. The firm has a market capitalization of $581.66 million, a price-to-earnings ratio of -10.01 and a beta of -0.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.14 and a quick ratio of 3.85.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. Genco Shipping & Trading had a negative net margin of 29.58% and a negative return on equity of 0.59%. The business had revenue of $86.16 million for the quarter, compared to analyst estimates of $59.97 million. As a group, analysts predict that Genco Shipping & Trading will post 0.78 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its stake in Genco Shipping & Trading by 1,178.3% in the second quarter. Meeder Asset Management Inc. now owns 7,823 shares of the shipping company’s stock valued at $121,000 after buying an additional 7,211 shares in the last quarter. SG Americas Securities LLC bought a new position in Genco Shipping & Trading in the second quarter valued at approximately $146,000. Russell Investments Group Ltd. bought a new position in Genco Shipping & Trading in the second quarter valued at approximately $163,000. Hartford Investment Management Co. bought a new position in Genco Shipping & Trading in the second quarter valued at approximately $169,000. Finally, Element Capital Management LLC bought a new position in Genco Shipping & Trading in the first quarter valued at approximately $187,000. 87.68% of the stock is currently owned by institutional investors and hedge funds.

Genco Shipping & Trading Company Profile

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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Analyst Recommendations for Genco Shipping & Trading (NYSE:GNK)

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