There is no way Genco Shipping & Trading Limited (GNK) can keep these numbers up

Genco Shipping & Trading Limited (NYSE: GNK) stock fell -1.41% on Friday to $18.91 against a previous-day closing price of $19.18. With 1.07 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.08 million shares. During the session, the Marine Shipping company that operates in wider Industrials sector, reached to the highest price of $19.38 whereas the lowest price it dropped to was $18.43. The 52-week range on GNK shows that it touched its highest point at $27.15 and its lowest point at $13.21 during that stretch. It currently has a 1-year price target of $27.46. With its current market cap of 802.73 million, GNK has annualized dividend of $3.16 while the current yield stands at 16.71%. Beta for the stock currently stands at 0.93.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GNK was down-trending over the past week, with a drop of -2.73%, but this was up by 7.14% over a month. Three-month performance dropped to -17.10% while six-month performance rose 15.23%. The stock gained 7.63% in the past year, while it has gained 18.19% so far this year. A look at the trailing 12-month EPS for GNK yields 5.20 with Next year EPS estimates of 4.48. For the next quarter, that number is 1.13. This implies an EPS growth rate of 179.40% for this year and -12.03% for next year.

Float and Shares Shorts:

At present, 42.17 million GNK shares are outstanding with a float of 37.03 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.51 million, which was 3.59% higher than short shares on Jun 14, 2022.

Institutional Ownership:

Through their ownership of 79.44% of GNK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.62% of GNK, in contrast to 33.40% held by mutual funds. Shares owned by individuals account for 23.25%. As the largest shareholder in GNK with 11.81% of the stake, Fidelity Management & Research Co holds 4,973,391 shares worth 4,973,391. A second-largest stockholder of GNK, Centerbridge Partners LP, holds 4,564,583 shares, controlling over 10.84% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in GNK, holding 2,074,558 shares or 4.93% stake. With a 3.19% stake in GNK, the Fidelity Balanced Fund is the largest stakeholder. A total of 1,340,860 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.96% of GNK stock, is the second-largest Mutual Fund holder. It holds 825,986 shares valued at 15.96 million. Fidelity Low Priced Stock Fund holds 1.55% of the stake in GNK, owning 652,473 shares worth 12.61 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GNK since 8 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GNK analysts setting a high price target of $32.00 and a low target of $19.00, the average target price over the next 12 months is $27.84. Based on these targets, GNK could surge 69.22% to reach the target high and rise by 0.48% to reach the target low. Reaching the average price target will result in a growth of 47.22% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GNK will report FY 2022 earnings on 02/28/2023. Analysts have provided yearly estimates in a range of $6.28 being high and $4.15 being low. For GNK, this leads to a yearly average estimate of $4.98. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Genco Shipping & Trading Limited surprised analysts by -$0.02 when it reported $0.97 EPS against a consensus estimate of $0.99. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is $1.28 and the low estimate is $0.98. The average estimate for the next quarter is thus $1.13.

Summary of Insider Activity:

Insiders traded GNK stock several times over the past three months with 5 Buys and 8 Sells. In these transactions, 257,586 shares were bought while 254,944 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 64 over the past year. The total number of shares bought during that period was 459,024 while 3,124,865 shares were sold.

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