Shares of Gener8 Maritime Inc (NASDAQ:GNRT) have received a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.
Brokerages have set a twelve-month consensus price target of $8.67 for the company and are predicting that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also given Gener8 Maritime an industry rank of 215 out of 265 based on the ratings given to its competitors.
A number of research firms have commented on GNRT. Zacks Investment Research cut shares of Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Citigroup Inc. reaffirmed a “buy” rating and issued a $12.00 target price on shares of Gener8 Maritime in a research report on Friday, July 15th. Jefferies Group reaffirmed a “buy” rating and issued a $13.00 target price (down previously from $17.00) on shares of Gener8 Maritime in a research report on Wednesday, July 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $5.00 target price (down previously from $9.00) on shares of Gener8 Maritime in a research report on Friday, August 26th.
Gener8 Maritime (NASDAQ:GNRT) opened at 5.27 on Monday. Gener8 Maritime has a 12 month low of $4.70 and a 12 month high of $12.15. The stock has a 50 day moving average of $5.28 and a 200-day moving average of $6.21. The stock has a market cap of $435.73 million and a P/E ratio of 2.46.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ 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 prior year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, equities analysts forecast that Gener8 Maritime will post $1.85 EPS for the current fiscal year.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $5.30, for a total transaction of $75,853.60. Following the sale, the vice president now owns 9,583 shares of the company’s stock, valued at $50,789.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds have recently modified their holdings of the company. James Investment Research Inc. acquired a new stake in shares of Gener8 Maritime during the second quarter valued at about $574,000. Bank of New York Mellon Corp boosted its stake in shares of Gener8 Maritime by 36.6% in the second quarter. Bank of New York Mellon Corp now owns 178,176 shares of the company’s stock valued at $1,140,000 after buying an additional 47,780 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Gener8 Maritime by 126.4% in the second quarter. California State Teachers Retirement System now owns 82,324 shares of the company’s stock valued at $527,000 after buying an additional 45,967 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Gener8 Maritime during the second quarter valued at about $1,238,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Gener8 Maritime by 8.1% in the second quarter. GSA Capital Partners LLP now owns 83,934 shares of the company’s stock valued at $537,000 after buying an additional 6,319 shares in the last quarter.
About Gener8 Maritime
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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