Gener8 Maritime Inc (GNRT) Shares Down 3.7%
Gener8 Maritime Inc (NASDAQ:GNRT)’s share price was down 3.7% during mid-day trading on Thursday . The stock traded as low as $5.22 and last traded at $5.22, with a volume of 93,742 shares trading hands. The stock had previously closed at $5.42.
Several equities analysts recently issued reports on GNRT shares. Citigroup Inc. decreased their price objective on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Jefferies Group reiterated a “buy” rating and issued a $13.00 price objective (down from $17.00) on shares of Gener8 Maritime in a research report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded Gener8 Maritime from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Wednesday, July 6th.
The firm has a market capitalization of $425.81 million and a price-to-earnings ratio of 2.40. The stock’s 50-day moving average is $5.48 and its 200 day moving average is $6.40.
Gener8 Maritime (NASDAQ:GNRT) last released 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. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company earned $105.96 million during the quarter, compared to analyst estimates of $109.89 million. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. Equities research analysts anticipate that Gener8 Maritime Inc will post $1.90 earnings per share for the current fiscal year.
In related news, VP Leonard J. Vrondissis sold 14,312 shares of the firm’s 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 sale, the vice president now directly owns 9,583 shares of the company’s stock, valued at $50,789.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
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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