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

Genco Shipping & Trading (NYSE:GNK) is set to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Persons that are interested in participating in 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 EPS for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the company 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 Up 0.4 %

Shares of NYSE:GNK opened at $16.01 on Tuesday. The firm has a 50 day simple moving average of $17.36 and a 200 day simple moving average of $19.51. Genco Shipping & Trading has a 52 week low of $12.65 and a 52 week high of $23.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.94 and a current ratio of 3.59. The company has a market cap of $684.59 million, a PE ratio of 48.52, a price-to-earnings-growth ratio of 0.25 and a beta of 0.98.

Genco Shipping & Trading Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were given a $0.34 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.36 annualized dividend and a dividend yield of 8.49%. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 412.12%.

Analyst Upgrades and Downgrades

GNK has been the subject of several research analyst reports. Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $26.00 to $17.00 in a research note 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Genco Shipping & Trading currently 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.