Gener8 Maritime Inc (GNRT) Given Average Rating of “Hold” by Analysts
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) have been given an average rating of “Hold” by the six brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $7.50.
A number of equities analysts recently commented on GNRT shares. Jefferies Group LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Gener8 Maritime in a research note on Tuesday, May 30th. ValuEngine downgraded Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. BidaskClub downgraded Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Finally, TheStreet raised Gener8 Maritime from a “d” rating to a “c-” rating in a research report on Wednesday.
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Institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new position in shares of Gener8 Maritime during the second quarter worth about $110,000. American International Group Inc. increased its position in shares of Gener8 Maritime by 7.1% in the first quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock worth $137,000 after buying an additional 1,598 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Gener8 Maritime by 4.7% in the first quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock worth $139,000 after buying an additional 1,100 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Gener8 Maritime during the second quarter worth $165,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Gener8 Maritime by 2.4% in the second quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock worth $171,000 after buying an additional 700 shares during the period.
Shares of Gener8 Maritime (NASDAQ:GNRT) opened at 4.52 on Tuesday. The company has a 50 day moving average price of $5.43 and a 200 day moving average price of $5.27. Gener8 Maritime has a 1-year low of $3.52 and a 1-year high of $6.40. The stock’s market cap is $375.11 million.
Gener8 Maritime (NASDAQ:GNRT) last issued its quarterly earnings data on Tuesday, August 1st. The shipping company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.05. The company had revenue of $74.95 million for the quarter, compared to the consensus estimate of $76.55 million. The firm’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. On average, equities analysts anticipate that Gener8 Maritime will post ($0.02) EPS for the current year.
Gener8 Maritime Company Profile
Gener8 Maritime, Inc is a provider of international seaborne crude oil transportation services. The Company operates through the transportation of international seaborne crude oil and petroleum products with its fleet of vessels segment. As of March 10, 2017, the Company owned a fleet of 40 tankers on the water, consisting of 24 Very Large Crude Carriers (VLCCs), 10 Suezmax vessels, four Aframax vessels and two Panamax vessels, with an aggregate carrying capacity of 9.4 million deadweight tons (DWT) and one eco VLCC newbuilding.
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