Genco Shipping & Trading (NYSE:GNK) – Equities researchers at Seaport Global Securities issued their Q1 2019 earnings per share estimates for Genco Shipping & Trading in a research note issued on Wednesday, May 9th, according to Zacks Investment Research. Seaport Global Securities analyst M. Fyhr forecasts that the shipping company will post earnings per share of $0.45 for the quarter. Seaport Global Securities currently has a “Buy” rating and a $18.00 price target on the stock. Seaport Global Securities also issued estimates for Genco Shipping & Trading’s Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.76 EPS.
Several other research firms also recently weighed in on GNK. Zacks Investment Research upgraded Genco Shipping & Trading from a “strong sell” rating to a “hold” rating in a research report on Friday, May 11th. ValuEngine upgraded Genco Shipping & Trading from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th. Morgan Stanley cut their price target on Genco Shipping & Trading from $15.00 to $14.50 and set an “equal weight” rating for the company in a report on Tuesday, April 17th. Deutsche Bank started coverage on Genco Shipping & Trading in a report on Monday, April 16th. They issued a “buy” rating and a $19.00 price target for the company. Finally, TheStreet raised Genco Shipping & Trading from a “d” rating to a “c-” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $17.64.
Genco Shipping & Trading (NYSE:GNK) last released its earnings results on Tuesday, May 8th. The shipping company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $76.92 million for the quarter, compared to the consensus estimate of $56.93 million. Genco Shipping & Trading had a negative return on equity of 2.26% and a negative net margin of 39.84%.
Several large investors have recently bought and sold shares of GNK. Strategic Value Partners LLC acquired a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at approximately $135,404,000. Raynor Geoffrey increased its stake in Genco Shipping & Trading by 1,704.8% during the fourth quarter. Raynor Geoffrey now owns 1,011,408 shares of the shipping company’s stock worth $13,472,000 after acquiring an additional 955,369 shares during the last quarter. Jefferies Group LLC acquired a new stake in Genco Shipping & Trading during the fourth quarter worth $4,262,000. Millennium Management LLC increased its stake in Genco Shipping & Trading by 1,102.9% during the first quarter. Millennium Management LLC now owns 168,402 shares of the shipping company’s stock worth $2,395,000 after acquiring an additional 154,402 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in Genco Shipping & Trading during the first quarter worth $1,649,000. 87.22% of the stock is owned by hedge funds and other institutional investors.
About Genco Shipping & Trading
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, such as commodities traders; producers; and government-owned entities.
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