Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) expected to post earnings of $1.27 per share

Brokerages expect Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN – Get a rating) to report earnings per share (EPS) of $1.27 for the current fiscal quarter, according to Zacks Investment Research. Two analysts made estimates of Grindrod Shipping’s earnings. The lowest EPS estimate is $1.17 and the highest is $1.37. Grindrod Shipping reported earnings of $0.12 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 958.3%. The company is expected to release its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect Grindrod Shipping to report annual earnings of $5.67 per share for the current year, with EPS estimates ranging from $5.35 to $5.98. For the next fiscal year, analysts expect the company to post earnings of $5.06 per share, with EPS estimates ranging from $4.42 to $5.70. Zacks’ earnings per share calculations 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 EPS of $2.75 for the quarter, beating the consensus estimate of $2.50 by $0.25. The company posted revenue of $114.86 million in the quarter, compared to $118.51 million expected by analysts. Grindrod Shipping achieved a return on equity of 41.13% and a net margin of 23.38%.

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Separately, Zacks Investment Research upgraded Grindrod Shipping shares from a “hold” rating to a “strong-buy” rating and set a price target of $26.00 on the stock in a Wednesday, February 23, report.

Shares of Grindrod Shipping opened at $24.10 on Friday. The company has a market capitalization of $463.93 million, a PE ratio of 4.03 and a beta of 0.86. The company has a debt ratio of 0.70, a current ratio of 1.61 and a quick ratio of 1.47. The company’s fifty-day moving average price is $20.87 and its two-hundred-day moving average price is $17.34. Grindrod Shipping has a 52-week low of $6.63 and a 52-week high of $27.10.

The company also recently disclosed 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. The ex-dividend date was Thursday, March 10. This represents a dividend of $2.88 on an annualized basis and a dividend yield of 11.95%. Grindrod Shipping’s delivery rate is currently 48.16%.

Several hedge funds and other institutional investors have recently changed their holdings in the company. Barclays PLC increased its stake in Grindrod Shipping shares by 178.6% during the fourth quarter. Barclays PLC now owns 1,950 shares in the company valued at $35,000 after acquiring an additional 1,250 shares during the period. Goldman Sachs Group Inc. increased its stake in Grindrod Shipping shares by 2.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 39,110 shares of the company worth $705,000 after buying 792 more shares last quarter. Mackenzie Financial Corp acquired a new equity stake in Grindrod Shipping during the fourth quarter worth approximately $204,000. LPL Financial LLC acquired a new stake in shares of Grindrod Shipping during the fourth quarter worth approximately $298,000. Finally, JPMorgan Chase & Co. increased its stake in Grindrod Shipping shares by 77.2% during the fourth quarter. JPMorgan Chase & Co. now owns 11,889 shares of the company worth $215,000 after buying 5,178 more shares last quarter. 38.87% of the shares are held by institutional investors.

About Grindrod Shipping (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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