B. Riley Issues Pessimistic Forecast for GNK Earnings

Genco Shipping & Trading Limited (NYSE:GNK) – Equities researchers at B. Riley cut their FY2025 earnings per share (EPS) estimates for Genco Shipping & Trading in a report issued on Thursday, November 7th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $1.43 for the year, down from their previous forecast of $1.72. The consensus estimate for Genco Shipping & Trading’s current full-year earnings is $1.71 per share.

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

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus cut Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Genco Shipping & Trading in a report on Wednesday, September 4th. They issued a “buy” rating and a $22.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

Genco Shipping & Trading Stock Down 0.8 %

GNK opened at $17.65 on Monday. Genco Shipping & Trading has a 1-year low of $13.48 and a 1-year high of $23.43. The firm’s 50 day simple moving average is $17.34 and its two-hundred day simple moving average is $19.35. The company has a current ratio of 3.09, a quick ratio of 2.94 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $754.71 million, a PE ratio of 11.24, a PEG ratio of 0.29 and a beta of 0.98.

Genco Shipping & Trading Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.60 annualized dividend and a yield of 9.07%. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.34. Genco Shipping & Trading’s dividend payout ratio (DPR) is 86.62%.

Institutional Trading of Genco Shipping & Trading

A number of large investors have recently made changes to their positions in GNK. CWM LLC grew its position in Genco Shipping & Trading by 109.5% in the second quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after acquiring an additional 998 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Genco Shipping & Trading during the 2nd quarter valued at $82,000. nVerses Capital LLC purchased a new stake in Genco Shipping & Trading during the 2nd quarter valued at $136,000. Point72 DIFC Ltd bought a new stake in Genco Shipping & Trading in the second quarter worth $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Genco Shipping & Trading by 80.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,980 shares of the shipping company’s stock worth $191,000 after buying an additional 4,003 shares during the period. 58.62% of the stock is currently owned by institutional investors.

Genco Shipping & Trading Company Profile

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.