Gener8 Maritime Inc (GNRT) Earns “Buy” Rating from Jefferies Group LLC
Gener8 Maritime Inc (NASDAQ:GNRT)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a note issued to investors on Monday. They currently have a $10.00 price objective on the shipping company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 102.02% from the stock’s current price. Jefferies Group also issued estimates for Gener8 Maritime’s FY2018 earnings at $0.75 EPS.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Gener8 Maritime from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. BidaskClub lowered Gener8 Maritime from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine lowered Gener8 Maritime from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $7.50.
Shares of Gener8 Maritime (GNRT) opened at 4.95 on Monday. Gener8 Maritime has a 12-month low of $3.52 and a 12-month high of $6.40. The firm’s market capitalization is $410.79 million. The stock’s 50 day moving average price is $5.56 and its 200 day moving average price is $5.27.
Gener8 Maritime (NASDAQ:GNRT) last issued its earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. The business had revenue of $74.95 million during the quarter, compared to analysts’ expectations of $76.55 million. Gener8 Maritime’s revenue for the quarter was down 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. Equities research analysts expect that Gener8 Maritime will post ($0.06) earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new position in shares of Gener8 Maritime during the second quarter valued at $110,000. American International Group Inc. boosted its position in shares of Gener8 Maritime by 7.1% in the first quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock valued at $137,000 after buying an additional 1,598 shares during the period. Alliancebernstein L.P. boosted its position in shares of Gener8 Maritime by 4.7% in the first quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock valued at $139,000 after buying an additional 1,100 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Gener8 Maritime during the second quarter valued at $165,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Gener8 Maritime by 2.4% in the second quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock valued at $171,000 after buying an additional 700 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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