Gener8 Maritime Inc (GNRT) Shares Up 5.3%
Gener8 Maritime Inc (NASDAQ:GNRT) shot up 5.3% during trading on Friday . The company traded as high as $5.40 and last traded at $5.39, with a volume of 76,898 shares changing hands. The stock had previously closed at $5.12.
A number of research firms have commented on GNRT. Zacks Investment Research cut Gener8 Maritime from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Jefferies Group reissued a “buy” rating and set a $13.00 price target (down from $17.00) on shares of Gener8 Maritime in a report on Wednesday, July 27th. Finally, Citigroup Inc. reduced their target price on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, July 28th.
The stock has a market cap of $446.47 million and a PE ratio of 2.52. The stock has a 50 day moving average of $5.80 and a 200 day moving average of $6.51.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings results 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 had revenue of $105.96 million for the quarter, compared to analysts’ expectations of $109.89 million. During the same period in the previous year, the business posted $0.68 EPS. The firm’s revenue was down 9.0% on a year-over-year basis. Equities analysts anticipate that Gener8 Maritime Inc will post $1.88 EPS for the current fiscal year.
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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