Gener8 Maritime Inc (GNRT) Shares Up 3.7%
Gener8 Maritime Inc (NASDAQ:GNRT)’s share price shot up 3.7% on Tuesday . The stock traded as high as $5.63 and last traded at $5.60, with a volume of 121,991 shares trading hands. The stock had previously closed at $5.40.
Several research firms have recently weighed in on GNRT. Zacks Investment Research cut Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Citigroup Inc. reiterated a “buy” rating and set a $12.00 price objective on shares of Gener8 Maritime in a report on Friday, July 15th. Finally, Jefferies Group reiterated a “buy” rating and set a $13.00 price objective (down previously from $17.00) on shares of Gener8 Maritime in a report on Wednesday, July 27th.
The firm has a market cap of $448.13 million and a price-to-earnings ratio of 2.53. The firm’s 50-day moving average is $5.48 and its 200-day moving average is $6.40.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.01. The company earned $105.96 million during the quarter, compared to analyst estimates of $109.89 million. During the same period in the prior year, the company posted $0.68 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year. On average, equities analysts forecast that Gener8 Maritime Inc will post $1.90 earnings per share for the current fiscal year.
In other Gener8 Maritime news, VP Leonard J. Vrondissis sold 14,312 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $5.30, for a total value of $75,853.60. Following the completion of the transaction, the vice president now directly owns 9,583 shares in the company, valued at $50,789.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Gener8 Maritime, Inc, formerly General Maritime Corporation, is a provider of international seaborne crude oil transportation services. The Company operates through the segment, which includes the transportation of international seaborne crude oil and petroleum products with its fleet of vessels. The Company owns a fleet of over 45 tankers, including 31 vessels on the water consisting of 14 Very Large Crude Carriers (VLCCs), approximately 11 Suezmax vessels, over four Aframax vessels and approximately two Panamax vessels with an aggregate carrying capacity of approximately 6.6 million deadweight tons.
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