Genco Shipping & Trading (NYSE:GNK) Issues Earnings Results, Misses Estimates By $0.27 EPS

Genco Shipping & Trading (NYSE:GNK) posted its quarterly earnings results on Wednesday. The shipping company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.27), Zacks reports. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%.

Genco Shipping & Trading Price Performance

Shares of GNK stock opened at $14.62 on Thursday. The company’s 50-day simple moving average is $14.32 and its two-hundred day simple moving average is $16.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. Genco Shipping & Trading has a one year low of $13.51 and a one year high of $23.43. The company has a market capitalization of $625.07 million, a P/E ratio of 9.31, a P/E/G ratio of 5.69 and a beta of 0.97.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GNK. Stifel Nicolaus cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their price target for the company from $26.00 to $17.00 in a report on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and set a $25.00 price objective on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Genco Shipping & Trading currently has an average rating of “Moderate Buy” and an average price target of $24.20.

Genco Shipping & Trading Company Profile

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.