Zacks Investment Research Upgrades Gener8 Maritime Inc (GNRT) to “Hold”
Gener8 Maritime Inc (NASDAQ:GNRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Gener8 Maritime, Inc. offers marine transportation services. The Company is involved in the transportation of crude oil and petroleum products. Gener8 Maritime, Inc. is headquartered in New York. “
Several other equities research analysts have also commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $5.00 price target (down from $9.00) on shares of Gener8 Maritime in a report on Friday, August 26th. Jefferies Group reaffirmed a “buy” rating on shares of Gener8 Maritime in a report on Monday, September 12th. Finally, Citigroup Inc. lowered their price target on shares of Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, July 28th.
Shares of Gener8 Maritime (NASDAQ:GNRT) opened at 4.95 on Wednesday. The company has a market capitalization of $409.27 million and a PE ratio of 2.31. Gener8 Maritime has a one year low of $4.70 and a one year high of $12.21. The stock has a 50 day moving average price of $5.30 and a 200 day moving average price of $6.28.
Gener8 Maritime (NASDAQ:GNRT) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by $0.01. The business had revenue of $105.96 million for the quarter, compared to the consensus estimate of $109.89 million. During the same quarter last year, the firm posted $0.68 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts predict that Gener8 Maritime will post $1.85 earnings per share for the current year.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $5.30, for a total transaction of $75,853.60. Following the sale, the vice president now directly owns 9,583 shares of the company’s stock, valued at approximately $50,789.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Large investors have recently bought and sold shares of the company. James Investment Research Inc. purchased a new stake in Gener8 Maritime during the second quarter valued at about $574,000. Bank of New York Mellon Corp raised its stake in Gener8 Maritime by 36.6% in the second quarter. Bank of New York Mellon Corp now owns 178,176 shares of the company’s stock valued at $1,140,000 after buying an additional 47,780 shares during the last quarter. California State Teachers Retirement System raised its stake in Gener8 Maritime by 126.4% in the second quarter. California State Teachers Retirement System now owns 82,324 shares of the company’s stock valued at $527,000 after buying an additional 45,967 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Gener8 Maritime during the second quarter valued at $1,238,000. Finally, GSA Capital Partners LLP increased its position in Gener8 Maritime by 8.1% in the second quarter. GSA Capital Partners LLP now owns 83,934 shares of the company’s stock valued at $537,000 after buying an additional 6,319 shares during the period.
Gener8 Maritime Company Profile
Gener8 Maritime, Inc, formerly General Maritime Corporation, is a provider of international seaborne crude oil transportation services. The Company operates through the segment, which includes the transportation of international seaborne crude oil and petroleum products with its fleet of vessels. The Company owns a fleet of over 45 tankers, including 31 vessels on the water consisting of 14 Very Large Crude Carriers (VLCCs), approximately 11 Suezmax vessels, over four Aframax vessels and approximately two Panamax vessels with an aggregate carrying capacity of approximately 6.6 million deadweight tons.
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