$44.60 Million in Sales Expected for Gener8 Maritime Inc (GNRT) This Quarter
Equities analysts expect Gener8 Maritime Inc (NASDAQ:GNRT) to report $44.60 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Gener8 Maritime’s earnings. The highest sales estimate is $49.60 million and the lowest is $39.59 million. Gener8 Maritime posted sales of $69.10 million in the same quarter last year, which suggests a negative year over year growth rate of 35.5%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, November 9th.
According to Zacks, analysts expect that Gener8 Maritime will report full year sales of $44.60 million for the current fiscal year, with estimates ranging from $309.71 million to $313.70 million. For the next fiscal year, analysts expect that the business will report sales of $330.04 million per share, with estimates ranging from $283.14 million to $362.89 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Gener8 Maritime.
Several brokerages have weighed in on GNRT. BidaskClub cut Gener8 Maritime from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research cut Gener8 Maritime from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Gener8 Maritime in a research note on Thursday, October 19th. Finally, ValuEngine cut Gener8 Maritime from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.00.
Several hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Gener8 Maritime by 115.7% in the 2nd quarter. FMR LLC now owns 7,007,841 shares of the shipping company’s stock valued at $39,875,000 after acquiring an additional 3,758,798 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Gener8 Maritime by 5.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,384,978 shares of the shipping company’s stock valued at $7,881,000 after acquiring an additional 75,323 shares during the last quarter. State Street Corp increased its stake in shares of Gener8 Maritime by 11.0% in the 2nd quarter. State Street Corp now owns 1,069,056 shares of the shipping company’s stock valued at $6,080,000 after acquiring an additional 106,359 shares during the last quarter. Royce & Associates LP increased its stake in shares of Gener8 Maritime by 8.8% in the 2nd quarter. Royce & Associates LP now owns 865,026 shares of the shipping company’s stock valued at $4,922,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Gener8 Maritime by 10.5% in the 2nd quarter. Northern Trust Corp now owns 838,560 shares of the shipping company’s stock valued at $4,771,000 after acquiring an additional 79,942 shares during the last quarter.
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Shares of Gener8 Maritime (GNRT) remained flat at $$4.77 during trading hours on Thursday. The stock had a trading volume of 232,647 shares, compared to its average volume of 193,760. Gener8 Maritime has a 1 year low of $3.52 and a 1 year high of $6.16.
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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