Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) Expected to Post Third Quarter 2022 Earnings of $1.29 Per Share

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%.

(A d)

There are not many days left on the calendar…and yet the global semiconductor market has reached $466.2 billion – despite the pandemic.

Even better, the chip shortage has created huge opportunities for recurring hits.

These four tech companies are well positioned to take advantage of this rapidly growing demand.

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.

Read more: Important diversification in investing

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Grindrod Shipping right now?

Before you consider Grindrod Shipping, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Grindrod Shipping wasn’t on the list.

While Grindrod Shipping currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here