Brokers expect Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN – Get a rating) will report revenue of $86.45 million for the current fiscal quarter, according to Zacks. Two analysts provided earnings estimates for Grindrod Shipping. The highest sales estimate is $88.35 million and the lowest is $84.54 million. Grindrod Shipping recorded sales of $71.83 million in the same quarter last year, which would indicate a positive growth rate of 20.4% year-over-year. The company is due to release its next earnings report on Monday, January 1.
On average, analysts expect Grindrod Shipping to report annual sales of $363.53 million for the current fiscal year, with estimates ranging from $335.29 million to $391.76 million. For the next fiscal year, analysts expect the company to record sales of $347.71 million, with estimates ranging from $305.46 million to $389.96 million. Zacks sales averages are an average average based on a survey of sell-side analysts who cover Grindrod Shipping.
Grindrod Expedition (NASDAQ: GRIN – Get a rating) last released its quarterly results on Wednesday, February 16. The company reported earnings per share of $2.75 for the quarter, beating the consensus estimate of $2.50 by $0.25. Grindrod Shipping achieved a net margin of 23.38% and a return on equity of 41.13%. The company posted revenue of $114.86 million in the quarter, compared to $118.51 million expected by analysts.
Separately, Zacks Investment Research upgraded Grindrod Shipping shares from a “hold” rating to a “strong-buy” rating and set a target price of $26.00 for the company in a Wednesday, Feb. 23 research note.
A number of institutional investors have recently changed their positions in GRIN. Barclays PLC increased its stake in Grindrod Shipping by 178.6% in the fourth quarter. Barclays PLC now owns 1,950 shares in the company valued at $35,000 after buying a further 1,250 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in Grindrod Shipping during Q3 valued at $52,000. Dorsey Wright & Associates acquired a new stake in Grindrod Shipping during Q4 valued at $66,000. Lazard Asset Management LLC increased its holdings of Grindrod Shipping shares by 44.1% during the fourth quarter. Lazard Asset Management LLC now owns 6,490 shares of the company worth $117,000 after buying 1,987 additional shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Grindrod Shipping during the third quarter at a value of $158,000. 38.87% of the shares are held by institutional investors and hedge funds.
NASDAQ: GRIN opened at $24.78 on Friday. Grindrod Shipping has a 1 year minimum of $6.99 and a 1 year maximum of $28.47. The company has a current ratio of 1.61, a quick ratio of 1.47 and a debt ratio of 0.70. The company has a fifty-day simple moving average of $23.31 and a 200-day simple moving average of $18.13. The stock has a market capitalization of $477.02 million, a PE ratio of 4.14 and a beta of 0.86.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 22. Shareholders of record on Friday, March 11 received a dividend of $0.72 per share. This represents an annualized dividend of $2.88 and a yield of 11.62%. The ex-dividend date was Thursday, March 10. Grindrod Shipping’s dividend payout ratio is 48.16%.
Grindrod Transport Company Profile (Get a rating)
Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters and operates a fleet of dry bulk carriers and tankers around the world. It operates a fleet of 23 owned dry bulk carriers and 8 long-term charter dry bulk carriers that transport a range of bulk commodities and general cargo, including ores, coal, grain, forest products, steel products and fertilizers.
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