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Selling Your Genco Shipping & Trading Limited (NYSE: GNK) Stock? Here’s What You Need To Know

Genco Shipping & Trading Limited (NYSE:GNK) shares, rose in value on Thursday, August 04, with the stock price down by -9.20% to the previous day’s close as strong demand from buyers drove the stock to $17.17.

Actively observing the price movement in the recent trading, the stock is buoying the session at $18.91, falling within a range of $18.43 and $19.38. The value of beta (5-year monthly) is 0.97 whereas the PE ratio is 3.64 over 12-month period. Referring to stock’s 52-week performance, its high was $27.15, and the low was $13.21. On the whole, GNK has fluctuated by 7.14% over the past month.

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With the market capitalization of Genco Shipping & Trading Limited currently standing at about $802.73 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 01, 2022 – Nov 07, 2022. The company’s Forward Dividend Ratio is 3.16, with its dividend yield at 16.71%. 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 $1.56, which is expected to increase to $2.26 for fiscal year $5.1 and then to about $4.48 by fiscal year 2023. Data indicates that the EPS growth is expected to be 20.30% in 2023, while the next year’s EPS growth is forecast to be -12.20%.

Analysts have estimated the company’s revenue for the quarter at $133.3 million, with a low estimate of $108.6 million and a high estimate of $152.4 million. According to the average forecast, sales growth in current quarter could jump up 11.00%, 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 $450.25 million, representing a decrease of -17.70% 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 no 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 100% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GNK currently trading nearly -5.26% and -16.14% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.85, while the 7-day volatility ratio is showing 4.10% which for the 30-day chart, stands at 4.09%. Furthermore, Genco Shipping & Trading Limited (GNK)’s beta value is 0.93, and its average true range (ATR) is 0.81.

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 -9.20% in today’s session so far, and over the past year, it grew by 7.63%%. On the other hand, the price of Alexander & Baldwin Inc. (ALEX) has fallen -0.57% today. The stock, however, is off -2.72% from where it was a year ago. Additionally, there is a loss of -0.97% for Diana Shipping Inc. (DSX) in recent trading while the stock has seen an overall depriciation of 64.11%% over the past year. The PE ratio stands at 3.64 for Genco Shipping & Trading Limited, and 38.16 for Alexander & Baldwin Inc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost -0.39%. Meanwhile, the Dow Jones Industrial Slipped by -0.42%.

Data on historical trading for Genco Shipping & Trading Limited (NYSE:GNK) indicates that the trading volumes over the past 10 days have averaged 0.72 million and over the past 3 months, they’ve averaged 1.09 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 79.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.51 million shares as on Jul 14, 2022, resulting in a short ratio of 1.54. According to the data, the short interest in Genco Shipping & Trading Limited (GNK) stood at 3.59% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 1.29 million. The stock has risen by 18.19% 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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