Brokerages Anticipate Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) Will Post Quarterly Sales of $55.81 Million

Wall Street analysts expect Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) to report sales of $55.81 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands)’s earnings, with estimates ranging from $54.53 million to $56.90 million. Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) posted sales of $43.89 million during the same quarter last year, which would indicate a positive year over year growth rate of 27.2%. The company is scheduled to report its next earnings report on Wednesday, March 7th.

On average, analysts expect that Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) will report full year sales of $55.81 million for the current fiscal year, with estimates ranging from $179.57 million to $196.00 million. For the next financial year, analysts anticipate that the firm will post sales of $241.55 million per share, with estimates ranging from $197.60 million to $301.81 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands).

Several research analysts have recently issued reports on GNK shares. ValuEngine cut shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Evercore ISI started coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Monday, November 20th. They issued an “outperform” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) has a consensus rating of “Hold” and a consensus target price of $15.17.

Genco Shipping & Trading Limited Ordinary Shares New (NYSE:GNK) opened at $12.88 on Friday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.52. Genco Shipping & Trading Limited Ordinary Shares New has a 1 year low of $6.90 and a 1 year high of $14.99.

In other news, major shareholder Cayman Gp Ltd. Ccp II sold 320,462 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $13.11, for a total value of $4,201,256.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.30% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Citigroup Inc. boosted its holdings in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 0.4% during the second quarter. Citigroup Inc. now owns 13,652 shares of the shipping company’s stock worth $129,000 after buying an additional 51 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 9.6% during the second quarter. Cubist Systematic Strategies LLC now owns 16,692 shares of the shipping company’s stock worth $158,000 after buying an additional 1,457 shares in the last quarter. California State Teachers Retirement System bought a new stake in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the second quarter worth approximately $129,000. Dimensional Fund Advisors LP boosted its holdings in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 102.0% during the second quarter. Dimensional Fund Advisors LP now owns 27,964 shares of the shipping company’s stock worth $265,000 after buying an additional 14,122 shares in the last quarter. Finally, Teachers Advisors LLC bought a new stake in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the second quarter worth approximately $141,000. Hedge funds and other institutional investors own 57.28% of the company’s stock.

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Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) Company Profile

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, including commodities traders; producers; and government-owned entities.

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Earnings History and Estimates for Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK)

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