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

Genco Shipping & Trading (NYSE:GNK) issued 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 Trading Down 1.6 %

GNK opened at $14.62 on Thursday. Genco Shipping & Trading has a 52 week low of $13.51 and a 52 week high of $23.43. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $14.32 and a 200-day simple moving average of $16.16. The firm has a market cap 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 Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, November 7th. Stifel Nicolaus lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Genco Shipping & Trading currently has a consensus rating of “Moderate Buy” and a consensus 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.