Genco Shipping & Trading (GNK) to Release Quarterly Earnings on Wednesday

Genco Shipping & Trading (NYSE:GNK) is set to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, February 21st. The shipping company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Genco Shipping & Trading had a negative net margin of 3.35% and a positive return on equity of 3.10%. The company had revenue of $115.50 million during the quarter, compared to analyst estimates of $72.54 million. During the same quarter last year, the business posted $0.67 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts expect Genco Shipping & Trading to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Genco Shipping & Trading Trading Down 1.8 %

NYSE GNK opened at $21.86 on Tuesday. The company has a market capitalization of $934.30 million, a PE ratio of -70.50 and a beta of 1.11. Genco Shipping & Trading has a 1-year low of $12.39 and a 1-year high of $22.38. The company has a current ratio of 4.46, a quick ratio of 3.70 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $20.63 and its 200-day simple moving average is $17.53.

Genco Shipping & Trading Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 7.50%. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, March 5th. Genco Shipping & Trading’s payout ratio is currently -529.03%.

Analysts Set New Price Targets

Several research firms have commented on GNK. Stifel Nicolaus boosted their target price on shares of Genco Shipping & Trading from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. StockNews.com downgraded shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Finally, TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.00.

Insider Buying and Selling

In other news, insider Jesper Christensen sold 12,404 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total value of $245,599.20. Following the completion of the sale, the insider now directly owns 42,587 shares of the company’s stock, valued at $843,222.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Genco Shipping & Trading news, CAO Joseph Adamo sold 1,396 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.40, for a total value of $28,478.40. Following the completion of the sale, the chief accounting officer now owns 17,994 shares in the company, valued at approximately $367,077.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jesper Christensen sold 12,404 shares of Genco Shipping & Trading stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total value of $245,599.20. Following the sale, the insider now directly owns 42,587 shares in the company, valued at approximately $843,222.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,496 shares of company stock valued at $1,238,678. Insiders own 2.08% of the company’s stock.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.