Gener8 Maritime Inc (GNRT) Upgraded by Zacks Investment Research to Hold
Gener8 Maritime Inc (NASDAQ:GNRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “
Other analysts have also recently issued reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $10.00 price target on shares of Gener8 Maritime in a report on Monday, August 7th. BidaskClub lowered shares of Gener8 Maritime from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. TheStreet upgraded shares of Gener8 Maritime from a “d” rating to a “c-” rating in a research note on Wednesday, August 9th. Finally, ValuEngine cut shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.00.
Shares of Gener8 Maritime (NASDAQ GNRT) opened at 4.69 on Wednesday. Gener8 Maritime has a 12 month low of $3.52 and a 12 month high of $5.69. The company’s 50 day moving average is $4.65 and its 200 day moving average is $4.65. The company’s market cap is $389.21 million.
Gener8 Maritime (NASDAQ:GNRT) last announced its earnings results on Tuesday, August 1st. The shipping company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.05). The firm had revenue of $74.95 million during the quarter, compared to the consensus estimate of $76.55 million. Gener8 Maritime had a negative return on equity of 23.25% and a negative net margin of 110.14%. The business’s revenue for the quarter was down 29.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, equities research analysts predict that Gener8 Maritime will post ($0.03) EPS for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. purchased a new position in Gener8 Maritime during the 2nd quarter worth $110,000. Voya Investment Management LLC increased its position in Gener8 Maritime by 29.3% during the 2nd quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock valued at $131,000 after buying an additional 5,219 shares in the last quarter. American International Group Inc. raised its stake in Gener8 Maritime by 7.1% in the first quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock valued at $137,000 after buying an additional 1,598 shares during the last quarter. Alliancebernstein L.P. raised its stake in Gener8 Maritime by 4.7% in the first quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock valued at $139,000 after buying an additional 1,100 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Gener8 Maritime in the second quarter valued at about $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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