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

Genco Shipping & Trading (NYSE:GNK) will be posting its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Genco Shipping & Trading to post earnings of $0.43 per share for the quarter. Individual interested in registering for the company’s earnings 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $107.00 million during the quarter, compared to analysts’ expectations of $74.86 million. Genco Shipping & Trading had a net margin of 3.59% and a return on equity of 6.11%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. 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 Stock Performance

Shares of GNK opened at $15.95 on Monday. The company has a current ratio of 3.59, a quick ratio of 2.94 and a debt-to-equity ratio of 0.10. The stock has a market cap of $682.02 million, a P/E ratio of 48.33, a PEG ratio of 0.25 and a beta of 0.98. The company has a 50-day moving average of $17.38 and a two-hundred day moving average of $19.54. Genco Shipping & Trading has a 12-month low of $12.65 and a 12-month high of $23.43.

Genco Shipping & Trading Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 8.53%. The ex-dividend date of this dividend was Monday, August 19th. Genco Shipping & Trading’s payout ratio is currently 412.12%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stifel Nicolaus cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their target price for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Genco Shipping & Trading in a report on Wednesday, September 4th. They set a “buy” rating and a $22.00 price target for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.