Genco Shipping & Trading Limited (NYSE:GNK) finished Friday with an addition of $0.02 to close at $14.28, an upside of 0.14 percent. An average of 695,280 shares of common stock have been traded in the last five days. There was a gain of $0.34 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 691,975 shares traded, while the 50-day average volume stands at 706,660.
GNK stock has increased by 3.48% in the last month. The company shares reached their 1-month lowest point of $13.27 on 07/21/23. With the stock rallying to its 52-week high on 02/24/23, shares of the company touched a low of $11.92 and a high of $19.84 in 52 weeks. It has reached a new high 17 times so far this year and lost -7.03% or -$1.08 in price. In spite of this, the price is down -28.03% from the 52-week high.
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Insider Transactions
GNK stock investors should be aware that Genco Shipping & Trading Limited (GNK) stock had its last reported insider trading activity 96 days ago on May 08. In this transaction, the insider spent $132,205. CEO, President, and Secretary, WOBENSMITH JOHN C, disposed of 14,164 shares at a price of $19.40 on Feb 27. The insider now owns more than $274,765 worth of shares. Prior to that, Chief Financial Officer Zafolias Apostolos went on to Sale 2,266 shares at $19.39 each on Feb 27. An amount of $43,943 was transacted.
Valuation Metrics
Genco Shipping & Trading Limited (GNK) has a trailing price-to-earnings (P/E) ratio of 5.13. The stock’s beta is 1.10. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.28, the price-to-book (PB) ratio at 0.64, and the price-to-cash flow ratio at 36.05.
The company has a payout ratio of 73.30%. The company’s most recent quarterly dividend payment was $0.15 a share, without any change from last year. Its latest decrease dividend $0.35 reported on Tuesday May 2 2023.
Financial Health
The quick ratio of Genco Shipping & Trading Limited for the three months ended June 29 was 2.40, and the current ratio was 3.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.17 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Genco Shipping & Trading Limited’s EBITDA margin for the year ending June 29 is 42.39%, while its operating margin for the same period stands at 33.80%. Its gross profit as reported stood at $256.45 million compared to revenue of $536.93 million.
Earnings Surprise
For the three-month period that ended June 29, Genco Shipping & Trading Limited had $148.26 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $11.56 million in the quarter, while revenues of $2.63 million were shrunk -309.86%. The analyst consensus anticipated Genco Shipping & Trading Limited’s latest quarter earnings to come in at $0.24 per share, but it turned out to be $0.27, a 12.50% surprise. For the quarter, EBITDA amounted to $31.46 million. Shareholders own equity worth $42.53 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 11 August was 55.66%, suggesting the stock is Neutral, with historical volatility in this time frame at 35.89%.
As of today, GNK’s price is $14.17 +2.44% or $0.34 from its 5-day moving average. GNK is currently trading +5.47% higher than its 20-day SMA and -5.62% lower than its 100-day SMA. However, the stock’s current price level is +15.07% above the SMA50 and +2.81% above the SMA200.
The stochastic %K and %D were 57.02% and 52.79%, respectively, and the average true range (ATR) was 0.45. With the 14-day stochastic at 52.00% and the average true range at 0.44, the RSI (14) stands at 54.72%. The stock has reached 0.10 on the 9-day MACD Oscillator while the 14-day reading was at 0.13.
Analyst Ratings
Stifel launched coverage on Genco Shipping & Trading Limited (NYSE: GNK) in its analyst report released on September 30, 2022. The firm assigned the stock 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 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 10 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 $17.00 and $28.00, with a median target of $23.00. Taking a look at these predictions, the average price target given by analysts for Genco Shipping & Trading Limited (GNK) stock is $22.80.
