Genco Shipping & Trading Limited (NYSE: GNK) Stock Is A Good Option To Consider

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Genco Shipping & Trading Limited (NYSE:GNK) shares, rose in value on Wednesday, 05/11/22, with the stock price up by 2.27% to the previous day’s close as strong demand from buyers drove the stock to $22.04.

Actively observing the price movement in the last trading, the stock closed the session at $21.55, falling within a range of $21.55 and $22.7226. The value of beta (5-year monthly) was 0.86 whereas the PE ratio was 5.16 over 12-month period. Referring to stock’s 52-week performance, its high was $26.00, and the low was $13.21. On the whole, GNK has fluctuated by 4.11% over the past month.

With the market capitalization of Genco Shipping & Trading Limited currently standing at about $955.43 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 02, 2022 – Aug 08, 2022. The company’s Forward Dividend Ratio is 3.16, with its dividend yield at 14.34%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.13, which is expected to increase to $2.14 for fiscal year $4.93 and then to about $4.72 by fiscal year 2023. Data indicates that the EPS growth is expected to be 16.30% in 2023, while the next year’s EPS growth is forecast to be -4.30%.

Analysts have estimated the company’s revenue for the quarter at $118.19 million, with a low estimate of $86.29 million and a high estimate of $150.1 million. According to the average forecast, sales growth in current quarter could jump down -2.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $468.82 million, representing a decrease of -14.30% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that GNK’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

10 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 1 analyst(s), 9 recommend it as a Buy and 0 called the GNK stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GNK currently trading nearly -3.99% and -0.40% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.36, while the 7-day volatility ratio is showing 6.49% which for the 30-day chart, stands at 6.15%. Furthermore, Genco Shipping & Trading Limited (GNK)’s beta value is 0.87, and its average true range (ATR) is 1.43.

A comparison of Genco Shipping & Trading Limited (GNK) with its peers suggests the former has fared considerably weaker in the market. GNK showed an intraday change of 2.27% in last session, and over the past year, it grew by 46.25%%. On the other hand, the price of Alexander & Baldwin Inc. (ALEX) has fallen -0.30% on the day. The stock, however, is off 14.92% from where it was a year ago. Additionally, there is a gain of 3.00% for Diana Shipping Inc. (DSX) in last trading while the stock has seen an overall depriciation of 44.65%% over the past year. The PE ratio stands at 5.16 for Genco Shipping & Trading Limited, and 40.22 for Alexander & Baldwin Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -1.65%. Meanwhile, the Dow Jones Industrial Slipped by -1.02%.

Data on historical trading for Genco Shipping & Trading Limited (NYSE:GNK) indicates that the trading volumes over the past 3 months, they’ve averaged 1.22 million. According to company’s latest data on outstanding shares, there are 42.17 million shares outstanding.

Nearly 1.10% of Genco Shipping & Trading Limited’s shares belong to company insiders and institutional investors own 82.60% of the company’s shares. The stock has risen by 37.75% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GNK stock heading into the next quarter.

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