Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) – Research analysts at Jefferies Financial Group released their third quarter 2022 earnings estimates for Grindrod Shipping in a report released Wednesday, January 26. Jefferies Financial Group analyst R. Giveans expects the company to earn $1.29 per share for the quarter. Jefferies Financial Group has a “Buy” rating and a price target of $20.00 on the stock. Jefferies Financial Group also released estimates for Grindrod Shipping’s fourth-quarter 2022 earnings at $0.92 EPS and full-year 2022 earnings at $4.40 EPS.
Several other brokerages have also recently weighed in on GRIN. Noble Financial reissued a “buy” rating and published a target price of $31.00 on Grindrod Shipping shares in a research note on Friday, October 15. Zacks Investment Research upgraded Grindrod Shipping from a “sell” rating to a “buy” rating and set a target price of $22.00 for the company in a Wednesday, January 19 research note.
Grindrod Shipping Stock opened at $16.60 on Friday. Grindrod Shipping has a 52-week low of $4.75 and a 52-week high of $19.99. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt ratio of 0.81. The company’s 50-day simple moving average is $15.93 and its 200-day simple moving average is $14.67. Grindrod Shipping Inc (NASDAQ:GRIN) last released quarterly earnings data on Tuesday, November 16. The company reported earnings per share of $2.28 for the quarter, beating consensus analyst estimates of $2.09 by $0.19. The company posted revenue of $135.14 million in the quarter, compared to $117.33 million expected by analysts.
The company also recently declared a quarterly dividend, which was paid on Monday, December 13. Investors of record on Friday, December 3 received a dividend of $0.72. The ex-dividend date was Thursday, December 2. This represents a dividend of $2.88 on an annualized basis and a dividend yield of 17.35%.
Several institutional investors and hedge funds have recently bought and sold shares of GRIN. Marshall Wace LLP acquired a new stake in Grindrod Shipping in Q3 worth approximately $5,475,000. Renaissance Technologies LLC increased its position in Grindrod Shipping by 160.2% in the third quarter. Renaissance Technologies LLC now owns 334,938 shares of the company valued at $5,165,000 after purchasing an additional 206,238 shares in the last quarter. Islet Management LP purchased a new stake in shares of Grindrod Shipping during the third quarter at a value of $1,542,000. Millennium Management LLC purchased a new stake in Grindrod Shipping in the third quarter worth approximately $1,243,000. Finally, Morgan Stanley increased its stake in Grindrod Shipping by 254,963.6% in the second quarter. Morgan Stanley now owns 56,114 shares of the company valued at $611,000 after acquiring an additional 56,092 shares during the period. 38.94% of the shares are held by institutional investors.
About Grindrod Shipping
Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters and operates a fleet of dry bulk carriers and tankers worldwide. 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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