Wall Street brokerages forecast that Genco Shipping & Trading Limited (NYSE:GNK) will report ($0.48) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Genco Shipping & Trading’s earnings. The lowest EPS estimate is ($0.51) and the highest is ($0.42). Genco Shipping & Trading reported earnings of ($0.49) per share in the same quarter last year, which indicates a positive year over year growth rate of 2%. The firm is expected to report its next earnings results on Wednesday, August 5th.

According to Zacks, analysts expect that Genco Shipping & Trading will report full-year earnings of ($0.82) per share for the current fiscal year, with EPS estimates ranging from ($0.86) to ($0.77). For the next financial year, analysts expect that the company will post earnings of $0.11 per share, with EPS estimates ranging from ($0.11) to $0.32. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Genco Shipping & Trading.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.13. The company had revenue of $49.97 million for the quarter, compared to analysts’ expectations of $43.36 million. Genco Shipping & Trading had a negative return on equity of 2.80% and a negative net margin of 42.74%.

A number of research analysts have commented on GNK shares. ValuEngine upgraded Genco Shipping & Trading from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Zacks Investment Research lowered Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Tuesday, June 23rd. TheStreet lowered Genco Shipping & Trading from a “c-” rating to a “d+” rating in a research report on Monday, March 2nd. DNB Markets lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a research report on Monday, March 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $11.00 target price on shares of Genco Shipping & Trading in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.42.

Shares of GNK traded down $0.42 during midday trading on Monday, reaching $6.00. 441,800 shares of the company were exchanged, compared to its average volume of 268,192. The stock has a 50-day moving average price of $5.77 and a 200-day moving average price of $7.15. The company has a market cap of $250.80 million, a price-to-earnings ratio of -1.49 and a beta of 0.71. Genco Shipping & Trading has a 1-year low of $4.27 and a 1-year high of $11.82. The company has a current ratio of 1.95, a quick ratio of 1.70 and a debt-to-equity ratio of 0.49.

A number of institutional investors have recently made changes to their positions in GNK. Hawk Ridge Capital Management LP bought a new stake in Genco Shipping & Trading in the fourth quarter valued at about $6,581,000. Valueworks LLC increased its holdings in Genco Shipping & Trading by 180.6% in the fourth quarter. Valueworks LLC now owns 154,339 shares of the shipping company’s stock valued at $584,000 after buying an additional 99,339 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in Genco Shipping & Trading in the first quarter valued at about $550,000. Renaissance Technologies LLC increased its holdings in Genco Shipping & Trading by 51.4% in the fourth quarter. Renaissance Technologies LLC now owns 243,330 shares of the shipping company’s stock valued at $2,584,000 after buying an additional 82,600 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Genco Shipping & Trading by 50.7% in the first quarter. Nuveen Asset Management LLC now owns 185,448 shares of the shipping company’s stock valued at $1,190,000 after buying an additional 62,383 shares during the last quarter. 81.00% of the stock is 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 ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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