Gener8 Maritime Inc (GNRT) Expected to Announce Quarterly Sales of $49.49 Million
Wall Street analysts expect that Gener8 Maritime Inc (NASDAQ:GNRT) will announce $49.49 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Gener8 Maritime’s earnings. The highest sales estimate is $49.60 million and the lowest is $49.38 million. Gener8 Maritime reported sales of $69.10 million in the same quarter last year, which indicates a negative year-over-year growth rate of 28.4%. The business is expected to announce its next quarterly earnings report on Monday, November 13th.
According to Zacks, analysts expect that Gener8 Maritime will report full year sales of $49.49 million for the current financial year, with estimates ranging from $313.70 million to $342.45 million. For the next financial year, analysts expect that the company will report sales of $358.38 million per share, with estimates ranging from $344.10 million to $368.16 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Gener8 Maritime.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings data on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.05. Gener8 Maritime had a negative return on equity of 23.25% and a negative net margin of 110.14%. The business had revenue of $74.95 million during the quarter, compared to analysts’ expectations of $76.55 million. During the same quarter last year, the business posted $0.51 EPS. The company’s quarterly revenue was down 29.3% compared to the same quarter last year.
A number of research analysts recently weighed in on GNRT shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Gener8 Maritime in a research report on Tuesday, May 30th. ValuEngine lowered Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. BidaskClub lowered Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered 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, August 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $10.00.
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Shares of Gener8 Maritime (NASDAQ GNRT) opened at 4.66 on Thursday. Gener8 Maritime has a 12-month low of $3.52 and a 12-month high of $6.40. The firm has a 50-day moving average price of $4.86 and a 200 day moving average price of $5.22. The stock’s market cap is $386.72 million.
Hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. bought a new position in Gener8 Maritime during the 2nd quarter valued at approximately $110,000. Voya Investment Management LLC increased its holdings in shares of Gener8 Maritime by 29.3% in the 2nd quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock worth $131,000 after purchasing an additional 5,219 shares in the last quarter. American International Group Inc. increased its holdings in shares of Gener8 Maritime by 7.1% in the 1st quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock worth $137,000 after purchasing an additional 1,598 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Gener8 Maritime by 4.7% in the 1st quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock worth $139,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Gener8 Maritime in the 2nd quarter worth $165,000.
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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