Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) Expected to Report Quarterly Sales of $86.45 Million


Stock analysts expect Grindrod Shipping Holdings Ltd. (NASDAQ: GRINGet a rating) to announce revenue of $86.45 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates of Grindrod Shipping’s earnings, with the lowest sales estimate of $84.54 million and the highest estimate of $88.35 million. Grindrod Shipping reported sales of $71.83 million in the same quarter last year, suggesting a positive year-over-year growth rate of 20.4%. The company is expected to release its next earnings report on Monday, January 1.

On average, analysts expect Grindrod Shipping to report annual revenue of $363.53 million in the current fiscal year, with estimates ranging from $335.29 million to $391.76 million. of dollars. For the next fiscal year, analysts expect the company to post sales of $347.71 million, with estimates ranging from $305.46 million to $389.96 million. Zacks Investment Research sales averages are an average average based on a survey of research companies that provide coverage for Grindrod Shipping.

Grindrod Expedition (NASDAQ: GRINGet a rating) last announced its results on Wednesday, February 16. The company reported earnings per share (EPS) of $2.75 for the quarter, beating analyst consensus estimates 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 net margin of 23.38% and a return on equity of 41.13%.

Several research companies have weighed in on GRIN recently. Jefferies Financial Group began covering Grindrod Shipping shares in a research note on Wednesday, April 27. They have set a “buy” rating and a price target of $26.00 on the stock. TheStreet upgraded shares of Grindrod Shipping from a ‘d+’ rating to a ‘c+’ rating in a Monday, April 18 report. To finish, Zacks Investment Research upgraded Grindrod Shipping shares from a “hold” rating to a “strong-buy” rating and set a target price of $26.00 on the stock in a Wednesday, February 23, report.

Shares of NASDAQ: GRIN opened at $26.06 on Friday. Grindrod Shipping has a one-year minimum of $7.38 and a one-year maximum of $28.93. The company has a 50-day moving average of $24.61 and a 200-day moving average of $19.30. The company has a debt ratio of 0.70, a current ratio of 1.61 and a quick ratio of 1.47. The stock has a market capitalization of $501.66 million, a price-earnings ratio of 4.36 and a beta of 0.80.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22. Investors of record on Friday, March 11 received a dividend of $0.72 per share. The ex-dividend date was Thursday, March 10. This represents an annualized dividend of $2.88 and a yield of 11.05%. Grindrod Shipping’s dividend payout ratio is 48.16%.

Institutional investors and hedge funds have recently been buying and selling stocks. Barclays PLC increased its position in Grindrod Shipping by 178.6% during the fourth quarter. Barclays PLC now owns 1,950 shares in the company worth $35,000 after purchasing an additional 1,250 shares during the period. Advisor Group Holdings Inc. bought a new position in shares of Grindrod Shipping in the third quarter worth about $52,000. Dorsey Wright & Associates bought a new position in shares of Grindrod Shipping in the fourth quarter for a value of around $66,000. Lazard Asset Management LLC increased its holdings of Grindrod Shipping shares by 44.1% in the fourth quarter. Lazard Asset Management LLC now owns 6,490 shares of the company worth $117,000 after acquiring 1,987 additional shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Grindrod Shipping in the third quarter worth about $158,000. 32.90% of the shares are held by institutional investors and hedge funds.

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 worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term charter dry bulk carriers that transport a range of bulk and bulk cargo, including ores, coal, grain, forest products, iron and steel products and fertilizers. .

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