Zacks: Analysts Expect Gener8 Maritime Inc (GNRT) Will Announce Quarterly Sales of $49.49 Million
Equities analysts expect that Gener8 Maritime Inc (NASDAQ:GNRT) will report sales of $49.49 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Gener8 Maritime’s earnings. The lowest sales estimate is $49.38 million and the highest is $49.60 million. Gener8 Maritime posted sales of $69.10 million during the same quarter last year, which suggests a negative year over year growth rate of 28.4%. The company is scheduled to report its next earnings report on Monday, November 13th.
On average, analysts expect that Gener8 Maritime will report full-year sales of $49.49 million for the current year, with estimates ranging from $313.70 million to $342.45 million. For the next year, analysts anticipate that the business will report sales of $358.38 million per share, with estimates ranging from $344.10 million to $368.16 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Gener8 Maritime.
Gener8 Maritime (NASDAQ:GNRT) last released its earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.05. The firm had revenue of $74.95 million during the quarter, compared to analysts’ expectations of $76.55 million. Gener8 Maritime had a return on equity of 7.42% and a net margin of 21.84%. The business’s revenue was down 29.3% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share.
GNRT has been the topic of a number of analyst reports. ValuEngine downgraded shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Gener8 Maritime in a research report on Tuesday, May 30th. BidaskClub downgraded shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Gener8 Maritime currently has an average rating of “Hold” and an average price target of $7.50.
Several hedge funds have recently made changes to their positions in GNRT. State Street Corp increased its stake in shares of Gener8 Maritime by 10.2% in the fourth quarter. State Street Corp now owns 808,524 shares of the shipping company’s stock worth $3,625,000 after buying an additional 75,020 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Gener8 Maritime by 43.2% in the fourth quarter. Teachers Advisors LLC now owns 88,029 shares of the shipping company’s stock valued at $394,000 after buying an additional 26,555 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Gener8 Maritime during the fourth quarter valued at approximately $303,000. Two Sigma Investments LP bought a new stake in shares of Gener8 Maritime during the fourth quarter valued at approximately $144,000. Finally, Boston Partners increased its stake in shares of Gener8 Maritime by 69.7% in the first quarter. Boston Partners now owns 1,239,283 shares of the shipping company’s stock valued at $7,027,000 after buying an additional 509,072 shares during the period.
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Gener8 Maritime (GNRT) traded down 0.60% on Tuesday, hitting $4.96. 303,128 shares of the stock traded hands. The stock’s market capitalization is $411.62 million. Gener8 Maritime has a 12-month low of $3.52 and a 12-month high of $6.40. The company’s 50 day moving average price is $5.56 and its 200-day moving average price is $5.28.
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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