Gener8 Maritime Inc (NASDAQ:GNRT) – Equities researchers at Seaport Global Securities dropped their Q3 2016 EPS estimates for Gener8 Maritime in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will post earnings of $0.15 per share for the quarter, down from their prior forecast of $0.30. Seaport Global Securities also issued estimates for Gener8 Maritime’s Q4 2016 earnings at $0.18 EPS, FY2016 earnings at $1.59 EPS, Q1 2017 earnings at $0.29 EPS, Q2 2017 earnings at $0.31 EPS, Q3 2017 earnings at $0.30 EPS, Q4 2017 earnings at $0.30 EPS and FY2017 earnings at $1.21 EPS.
GNRT has been the topic of a number of other research reports. Morgan Stanley restated an “equal weight” rating and set a $5.00 price target (down previously from $9.00) on shares of Gener8 Maritime in a report on Friday, August 26th. Jefferies Group restated a “buy” rating on shares of Gener8 Maritime in a report on Tuesday, September 6th. Zacks Investment Research upgraded Gener8 Maritime from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Citigroup Inc. reduced their price target on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, July 28th.
Shares of Gener8 Maritime (NASDAQ:GNRT) opened at 5.08 on Thursday. The company’s 50-day moving average price is $5.27 and its 200-day moving average price is $6.19. Gener8 Maritime has a one year low of $4.70 and a one year high of $11.97. The company has a market capitalization of $420.02 million and a price-to-earnings ratio of 2.37.
Gener8 Maritime (NASDAQ:GNRT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. The company earned $105.96 million during the quarter, compared to analyst estimates of $109.89 million. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners increased its position in Gener8 Maritime by 78.8% in the second quarter. Boston Partners now owns 1,282,908 shares of the company’s stock worth $8,211,000 after buying an additional 565,513 shares during the period. BlackRock Fund Advisors increased its position in Gener8 Maritime by 131.9% in the second quarter. BlackRock Fund Advisors now owns 933,332 shares of the company’s stock worth $5,973,000 after buying an additional 530,872 shares during the period. AQR Capital Management LLC purchased a new position in Gener8 Maritime during the second quarter worth $2,393,000. Point72 Asset Management L.P. increased its position in Gener8 Maritime by 61.8% in the second quarter. Point72 Asset Management L.P. now owns 885,100 shares of the company’s stock worth $5,665,000 after buying an additional 337,900 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Gener8 Maritime by 37.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 879,557 shares of the company’s stock worth $5,629,000 after buying an additional 241,741 shares during the period.
In other Gener8 Maritime news, VP Leonard J. Vrondissis sold 14,312 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $5.30, for a total transaction of $75,853.60. Following the transaction, the vice president now owns 9,583 shares in the company, valued at approximately $50,789.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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