B. Riley Has Negative Forecast for GNK Q4 Earnings

Genco Shipping & Trading Limited (NYSE:GNK) – B. Riley lowered their Q4 2024 earnings per share estimates for Genco Shipping & Trading in a research report issued on Tuesday, January 28th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.34. The consensus estimate for Genco Shipping & Trading’s current full-year earnings is $1.75 per share. B. Riley also issued estimates for Genco Shipping & Trading’s FY2025 earnings at $0.04 EPS.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The firm had revenue of $99.33 million for the quarter, compared to the consensus estimate of $72.02 million. During the same period last year, the firm posted ($0.09) EPS. Genco Shipping & Trading’s quarterly revenue was up 19.2% compared to the same quarter last year.

Other analysts also recently issued research reports about the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, November 7th. Stifel Nicolaus cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their price objective for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.20.

Genco Shipping & Trading Stock Performance

GNK opened at $14.57 on Thursday. Genco Shipping & Trading has a twelve month low of $13.51 and a twelve month high of $23.43. The stock has a market cap of $623.18 million, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.23 and a beta of 0.99. The business’s 50 day moving average is $14.72 and its 200-day moving average is $16.72. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08.

Genco Shipping & Trading Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 10.98%. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, November 18th. Genco Shipping & Trading’s dividend payout ratio is presently 101.91%.

Institutional Trading of Genco Shipping & Trading

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Genco Shipping & Trading by 1.0% in the 3rd quarter. State Street Corp now owns 1,190,467 shares of the shipping company’s stock valued at $23,214,000 after acquiring an additional 12,001 shares in the last quarter. Townsend & Associates Inc boosted its position in shares of Genco Shipping & Trading by 2.7% in the third quarter. Townsend & Associates Inc now owns 1,048,858 shares of the shipping company’s stock worth $20,453,000 after buying an additional 27,783 shares during the period. Geode Capital Management LLC grew its holdings in shares of Genco Shipping & Trading by 1.2% during the third quarter. Geode Capital Management LLC now owns 980,097 shares of the shipping company’s stock valued at $19,116,000 after buying an additional 11,151 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Genco Shipping & Trading by 70.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock valued at $10,345,000 after buying an additional 219,907 shares during the period. Finally, Loomis Sayles & Co. L P lifted its stake in Genco Shipping & Trading by 6.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 501,503 shares of the shipping company’s stock worth $9,779,000 after acquiring an additional 28,314 shares in the last quarter. 58.62% of the stock is currently owned by institutional investors.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.