BidaskClub Upgrades Gener8 Maritime Inc (GNRT) to Sell
Gener8 Maritime Inc (NASDAQ:GNRT) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.
Other equities research analysts have also issued reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of Gener8 Maritime in a research report on Monday, August 7th. TheStreet raised Gener8 Maritime from a “d” rating to a “c-” rating in a research report on Wednesday, August 9th. ValuEngine lowered Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Finally, Zacks Investment Research lowered Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.50.
Gener8 Maritime (GNRT) traded up 1.99% during mid-day trading on Friday, hitting $4.62. 16,262 shares of the stock traded hands. The company has a 50 day moving average of $5.12 and a 200-day moving average of $5.24. Gener8 Maritime has a 12-month low of $3.52 and a 12-month high of $6.40. The stock’s market cap is $383.40 million.
Gener8 Maritime (NASDAQ:GNRT) last issued its earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. The business had revenue of $74.95 million during the quarter, compared to analysts’ expectations of $76.55 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. Gener8 Maritime’s revenue for the quarter was down 29.3% compared to the same quarter last year. Equities research analysts forecast that Gener8 Maritime will post ($0.02) earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “BidaskClub Upgrades Gener8 Maritime Inc (GNRT) to Sell” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/08/25/bidaskclub-upgrades-gener8-maritime-inc-gnrt-to-sell.html.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Gener8 Maritime by 115.7% in the second quarter. FMR LLC now owns 7,007,841 shares of the shipping company’s stock worth $39,875,000 after buying an additional 3,758,798 shares during the period. Boston Partners raised its position in shares of Gener8 Maritime by 69.7% in the first quarter. Boston Partners now owns 1,239,283 shares of the shipping company’s stock worth $7,027,000 after buying an additional 509,072 shares during the period. Schroder Investment Management Group acquired a new position in shares of Gener8 Maritime during the first quarter worth approximately $2,875,000. Kennedy Capital Management Inc. raised its position in shares of Gener8 Maritime by 39.7% in the first quarter. Kennedy Capital Management Inc. now owns 593,833 shares of the shipping company’s stock worth $3,367,000 after buying an additional 168,619 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in shares of Gener8 Maritime during the first quarter worth approximately $842,000.
About Gener8 Maritime
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.
Receive News & Stock Ratings for Gener8 Maritime Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gener8 Maritime Inc and related stocks with our FREE daily email newsletter.