Gener8 Maritime Inc (NASDAQ:GNRT) Rating Lowered to Hold at BidaskClub
BidaskClub cut shares of Gener8 Maritime Inc (NASDAQ:GNRT) from a buy rating to a hold rating in a report published on Wednesday morning.
GNRT has been the topic of several other research reports. Zacks Investment Research upgraded shares of Gener8 Maritime from a sell rating to a hold rating in a research report on Tuesday, March 14th. Jefferies Group LLC reiterated a buy rating on shares of Gener8 Maritime in a research report on Friday, March 24th. Finally, ValuEngine cut shares of Gener8 Maritime from a buy rating to a hold rating in a research report on Saturday, June 3rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Gener8 Maritime has an average rating of Hold and a consensus target price of $8.00.
Gener8 Maritime (GNRT) opened at 5.77 on Wednesday. Gener8 Maritime has a 1-year low of $3.52 and a 1-year high of $6.40. The firm has a 50-day moving average of $5.30 and a 200-day moving average of $5.08. The stock has a market cap of $478.68 million and a PE ratio of 14.76.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings data on Tuesday, May 9th. The shipping company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $121.06 million for the quarter, compared to analysts’ expectations of $114.54 million. Gener8 Maritime had a net margin of 21.84% and a return on equity of 7.42%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. Analysts expect that Gener8 Maritime will post $0.17 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new position in Gener8 Maritime during the second quarter worth $165,000. Tower Research Capital LLC TRC raised its position in Gener8 Maritime by 118.7% in the first quarter. Tower Research Capital LLC TRC now owns 30,298 shares of the shipping company’s stock worth $172,000 after buying an additional 16,443 shares during the period. Driehaus Capital Management LLC acquired a new position in Gener8 Maritime during the first quarter worth $842,000. Schwab Charles Investment Management Inc. raised its position in Gener8 Maritime by 8.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 236,940 shares of the shipping company’s stock worth $1,344,000 after buying an additional 18,126 shares during the period. Finally, Kennedy Capital Management Inc. raised its position in Gener8 Maritime by 39.7% in the first quarter. Kennedy Capital Management Inc. now owns 593,833 shares of the shipping company’s stock worth $3,367,000 after buying an additional 168,619 shares during the period.
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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