Genco Shipping & Trading Limited (NYSE:GNK) has a beta value of 1.04 and has seen 1,546,388 shares traded in the last trading session. The company, currently valued at $694.07 Million, closed the last trade at $16.56 per share which meant it gained $1.22 on the day or 7.95% during that session. The GNK stock price is -2.36% off its 52-week high price of $16.95 and 74.03% above the 52-week low of $4.3. If we look at the company’s 10-day average daily trading volume, we find that it stood at 515.92 Million shares traded. The 3-month trading volume is 1.06 Million shares.
The consensus among analysts is that Genco Shipping & Trading Limited (GNK) is a Buy stock at the moment, with a recommendation rating of 1.6. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 7 have rated it as a Hold, with 7 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.02.
Genco Shipping & Trading Limited (NYSE:GNK) trade information
Sporting 7.95% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, May 03 when the GNK stock price touched $16.95- or saw a rise of 2.3%. Year-to-date, Genco Shipping & Trading Limited shares have moved 125%, while the 5-day performance has seen it change 17.2%. Over the past 30 days, the shares of Genco Shipping & Trading Limited (NYSE:GNK) have changed 61.88%. Short interest in the company has seen 768.77 Million shares shorted with days to cover at 725.25.
Wall Street analysts have a consensus price target for the stock at $17.8, which means that the shares’ value could jump 7.49% from current levels. The projected low price target is $14 while the price target rests at a high of $23. In that case, then, we find that the current price level is +38.89% off the targeted high while a plunge would see the stock lose -15.46% from current levels.
Genco Shipping & Trading Limited (GNK) estimates and forecasts
Figures show that Genco Shipping & Trading Limited shares have outperformed across the wider relevant industry. The company’s shares have gained +151.29% over the past 6 months, with this year growth rate of 508.57%, compared to 2.5% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 111.8% and 225.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be -26.4%.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +28.9% over the past 5 years. Earnings growth for 2021 is a modest -301.5%.
Genco Shipping & Trading Limited is expected to release its next earnings report between August 03 and August 09 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.08 at a share yield of 0.54%.
Genco Shipping & Trading Limited (NYSE:GNK)’s Major holders
Insiders own 7.37% of the company shares, while shares held by institutions stand at 46.46% with a share float percentage of 50.15%. Investors are also buoyed by the number of investors in a company, with Genco Shipping & Trading Limited having a total of 144 institutions that hold shares in the company. The top two institutional holders are Centerbridge Partners, L.P. with over 10.21 Million shares worth more than $75.18 Million. As of December 30, 2020, Centerbridge Partners, L.P. held 24.37% of shares outstanding.
The other major institutional holder is Strategic Value Partners, LLC, with the holding of over 8.17 Million shares as of December 30, 2020. The firm’s total holdings are worth over $60.1 Million and represent 19.48% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Balanced Fund and Fidelity Low-Priced Stock Fund. As of February 27, 2021, the former fund manager holds about 3.16% shares in the company for having 1322870 shares of worth $13.89 Million while later fund manager owns 735.3 Thousand shares of worth $5.82 Million as of January 30, 2021, which makes it owner of about 1.75% of company’s outstanding stock.