Genco Shipping & Trading (NYSE:GNK) Shares Cross Above 50-Day Moving Average – Should You Sell?

Shares of Genco Shipping & Trading Limited (NYSE:GNK) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $24.29 and traded as high as $25.60. Genco Shipping & Trading shares last traded at $25.3370, with a volume of 218,246 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GNK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $29.00 target price on shares of Genco Shipping & Trading in a research note on Friday, May 8th. Weiss Ratings raised shares of Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Alliance Global Partners reissued a “neutral” rating on shares of Genco Shipping & Trading in a research report on Wednesday, June 17th. Finally, Zacks Research upgraded Genco Shipping & Trading from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Genco Shipping & Trading Stock Up 1.4%

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.98 and a quick ratio of 2.41. The stock has a 50 day moving average price of $24.29 and a 200-day moving average price of $23.00. The stock has a market capitalization of $1.12 billion, a P/E ratio of 67.88, a PEG ratio of 3.11 and a beta of 0.93.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.07 by $0.19. Genco Shipping & Trading had a net margin of 4.38% and a return on equity of 2.49%. The firm had revenue of $114.43 million during the quarter, compared to the consensus estimate of $65.73 million. During the same period in the prior year, the firm posted ($0.28) earnings per share. The company’s quarterly revenue was up 60.6% compared to the same quarter last year. As a group, research analysts expect that Genco Shipping & Trading Limited will post 2.12 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th were issued a $0.35 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.40 annualized dividend and a yield of 5.4%. Genco Shipping & Trading’s dividend payout ratio is 368.42%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. XY Capital Ltd bought a new position in shares of Genco Shipping & Trading during the fourth quarter valued at approximately $425,000. Graham Capital Wealth Management LLC bought a new position in shares of Genco Shipping & Trading during the fourth quarter valued at $1,742,000. UBS Group AG lifted its stake in Genco Shipping & Trading by 33.3% during the 4th quarter. UBS Group AG now owns 153,263 shares of the shipping company’s stock valued at $2,825,000 after acquiring an additional 38,310 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in Genco Shipping & Trading in the first quarter worth approximately $560,000. Finally, Unison Advisors LLC purchased a new position in shares of Genco Shipping & Trading in the 4th quarter worth $705,000. Institutional investors own 58.62% of the company’s stock.

About Genco Shipping & Trading

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.