Q3 2016 EPS Estimates for Gener8 Maritime Inc (GNRT) Cut by Seaport Global Securities
Gener8 Maritime Inc (NASDAQ:GNRT) – Analysts at Seaport Global Securities dropped their Q3 2016 earnings per share (EPS) estimates for Gener8 Maritime in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the brokerage will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.30. Seaport Global Securities also issued estimates for Gener8 Maritime’s Q4 2016 earnings at $0.18 EPS, FY2016 earnings at $1.59 EPS, Q1 2017 earnings at $0.29 EPS, Q2 2017 earnings at $0.31 EPS, Q3 2017 earnings at $0.30 EPS, Q4 2017 earnings at $0.30 EPS and FY2017 earnings at $1.21 EPS.
A number of other brokerages also recently commented on GNRT. Zacks Investment Research downgraded shares of Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Jefferies Group restated a “buy” rating on shares of Gener8 Maritime in a report on Monday, September 12th. Finally, Citigroup Inc. lowered their target price on shares of Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, July 28th.
Shares of Gener8 Maritime (NASDAQ:GNRT) opened at 5.08 on Thursday. The stock has a market capitalization of $420.02 million and a P/E ratio of 2.37. The firm has a 50 day moving average of $5.27 and a 200-day moving average of $6.19. Gener8 Maritime has a 12 month low of $4.70 and a 12 month high of $11.97.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the Zacks’ 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 in the previous year, the company posted $0.68 earnings per share. The company’s revenue was down 9.0% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in GNRT. GSA Capital Partners LLP boosted its position in shares of Gener8 Maritime by 8.1% in the second quarter. GSA Capital Partners LLP now owns 83,934 shares of the company’s stock worth $537,000 after buying an additional 6,319 shares during the period. American International Group Inc. boosted its position in shares of Gener8 Maritime by 131.1% in the second quarter. American International Group Inc. now owns 22,600 shares of the company’s stock worth $145,000 after buying an additional 12,821 shares during the period. Rhumbline Advisers boosted its position in shares of Gener8 Maritime by 70.4% in the second quarter. Rhumbline Advisers now owns 37,114 shares of the company’s stock worth $238,000 after buying an additional 15,329 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Gener8 Maritime during the second quarter worth $125,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Gener8 Maritime by 1,565.4% in the second quarter. Tower Research Capital LLC TRC now owns 22,650 shares of the company’s stock worth $145,000 after buying an additional 21,290 shares during the period.
In related news, VP Leonard J. Vrondissis sold 14,312 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $5.30, for a total value of $75,853.60. Following the completion of the sale, the vice president now directly owns 9,583 shares in the company, valued at $50,789.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
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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