Genco Shipping & Trading Limited (GNK) Shares: Are They Risky Or Cheap?

Genco Shipping & Trading Limited (NYSE:GNK) finished Friday with a subtraction of -$0.05 to close at $17.54, a downside of -0.28 percent. An average of 504,280 shares of common stock have been traded in the last five days. There was a gain of $0.38 in the past week, and it reached a new high 40 times over the past 12 months. The last 20 days have seen an average of 581,780 shares traded, while the 50-day average volume stands at 625,536.

GNK stock has decreased by -5.04% in the last month. The company shares reached their 1-month lowest point of $17.03 on 10/14/21. With the stock rallying to its 52-week high on 09/16/21, shares of the company touched a low of $6.38 and a high of $22.00 in 52 weeks. It has reached a new high 39 times so far this year and achieved 138.32% or $10.18 in price. In spite of this, the price is down -20.27% from the 52-week high.

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Insider Transactions

37 days have passed since Genco Shipping & Trading Limited (GNK) last reported insider trading activity. Adamo Joseph, who is Chief Accounting Officer, most recently acquired $2,739 shares at $21.34 per share on Sep 16. In this transaction, the insider spent $58,462. 10% Owner, CCP II Cayman GP Ltd., disposed of 146,000 shares at a price of $17.97 on Aug 18. The insider now owns more than $2,624,160 worth of shares. Prior to that, 10% Owner Centerbridge Credit Partners, went on to Sale 146,000 shares at $17.97 each on Aug 18. An amount of $2,624,160 was transacted.

Valuation Metrics

Genco Shipping & Trading Limited (GNK) has a trailing price-to-earnings (P/E) ratio of 18.35 for the broader industry and 29.83 for the sector. In the last five years, Genco Shipping & Trading Limited’s PE ratio has ranged between 28.69 and 19.94. The stock’s beta is 1.08. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.88, the price-to-book (PB) ratio at 0.95, and the price-to-cash flow ratio at 7.24.

Genco Shipping & Trading Limited pays a $0.40 dividend per share annually. It offers a dividend yield of 2.28%. The company’s most recent quarterly dividend payment took place on Aug. 25, and it was $0.10 a share, representing a up of 100.0% from $0.05 last year. Its dividend has been increased for the last 2 consecutive years with the latest increase dividend $0.05 reported on Wednesday August 4 2021.

The quick ratio of Genco Shipping & Trading Limited for the three months ended June 29 was 2.10, and the current ratio was 2.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.39 and a total debt to equity ratio of 0.46 for the quarter ending June 29. Genco Shipping & Trading Limited’s EBITDA margin for the year ending June 29 is 20.46%, while its operating margin for the same period stands at -8.80%. Its gross profit as reported stood at $100.85 million compared to revenue of $355.56 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Genco Shipping & Trading Limited’s return on assets was -4.30%. For the broader industry, ROE averaged 13.58 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Genco Shipping & Trading Limited had $303.69 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $32.04 million in the quarter, while revenues of $1.99 million were grew 156.8%. The analyst consensus anticipated Genco Shipping & Trading Limited’s latest quarter earnings to come in at $0.75 per share, but it turned out to be $0.75, a 0.00% surprise. For the quarter, EBITDA amounted to $51.41 million. Shareholders own equity worth $41.92 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Genco Shipping & Trading Limited (GNK) price momentum. RSI 9-day as of the close on 22 October was 37.45%, suggesting the stock is Neutral, with historical volatility in this time frame at 53.82%.

As of today, GNK’s price is $17.91 +2.21% or $0.38 from its 5-day moving average. GNK is currently trading -7.68% lower than its 20-day SMA and +9.69% higher than its 100-day SMA. However, the stock’s current price level is -2.56% below the SMA50 and +109.56% above the SMA200.

The stochastic %K and %D were 20.41% and 25.15%, respectively, and the average true range (ATR) was 0.93. With the 14-day stochastic at 16.14% and the average true range at 0.97, the RSI (14) stands at 41.09%. The stock has reached -0.17 on the 9-day MACD Oscillator while the 14-day reading was at -0.70.

Analyst Ratings

H.C. Wainwright launched coverage on Genco Shipping & Trading Limited (NYSE: GNK) in its analyst report released on September 13, 2021. The firm assigned the stock a a Buy rating. The consensus rating for Genco Shipping & Trading Limited (GNK) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GNK, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 9 others rate it as a “buy”.

What is GNK’s price target for the next 12 months?

Analysts predict a range of price targets between $19.00 and $30.00, with a median target of $27.10. Taking a look at these predictions, the average price target given by analysts for Genco Shipping & Trading Limited (GNK) stock is $26.47.


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