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

Genco Shipping & Trading (NYSE:GNK) will issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Wednesday, August 7th. The shipping company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $74.86 million. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. Genco Shipping & Trading’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. 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 Price Performance

Shares of NYSE:GNK opened at $15.81 on Wednesday. The business’s fifty day moving average price is $17.49 and its two-hundred day moving average price is $19.67. The stock has a market cap of $676.00 million, a PE ratio of 263.50, a price-to-earnings-growth ratio of 0.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.94 and a current ratio of 3.59. Genco Shipping & Trading has a one year low of $12.65 and a one year high of $23.43.

Genco Shipping & Trading Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 8.60%. The ex-dividend date was Monday, August 19th. Genco Shipping & Trading’s dividend payout ratio (DPR) is 2,266.67%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GNK shares. Stifel Nicolaus cut Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on Genco Shipping & Trading in a report on Wednesday, September 4th. They set a “buy” rating and a $22.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.60.

About Genco Shipping & Trading

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.