Zacks Investment Research upgraded shares of Gener8 Maritime Inc (NASDAQ:GNRT) from a sell rating to a hold rating in a research report released on Wednesday, October 4th.
According to Zacks, “Gener8 Maritime, Inc. offers marine transportation services. The Company is involved in the transportation of crude oil and petroleum products. Gener8 Maritime, Inc. is headquartered in New York. “
Other analysts have also issued research reports about the stock. Jefferies Group LLC reiterated a buy rating and issued a $10.00 target price on shares of Gener8 Maritime in a research note on Thursday, September 21st. TheStreet upgraded shares of Gener8 Maritime from a d rating to a c- rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Gener8 Maritime from a sell rating to a hold rating in a research report on Saturday, September 16th. Finally, ValuEngine downgraded shares of Gener8 Maritime from a buy rating to a hold rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Gener8 Maritime presently has a consensus rating of Hold and a consensus target price of $10.00.
Gener8 Maritime (NASDAQ GNRT) opened at 4.95 on Wednesday. The company has a 50-day moving average of $4.66 and a 200-day moving average of $4.66. Gener8 Maritime has a 52-week low of $3.52 and a 52-week high of $6.16. The company’s market cap is $410.79 million.
Gener8 Maritime (NASDAQ:GNRT) last posted 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). Gener8 Maritime had a negative return on equity of 23.25% and a negative net margin of 110.14%. The firm had revenue of $74.95 million during the quarter, compared to the consensus estimate of $76.55 million. During the same quarter in the previous year, the company earned $0.51 EPS. The business’s revenue was down 29.3% compared to the same quarter last year. On average, equities research analysts expect that Gener8 Maritime will post ($0.05) earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in GNRT. Teachers Advisors LLC lifted its holdings 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 worth $394,000 after buying an additional 26,555 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Gener8 Maritime by 64.7% in the first quarter. Wells Fargo & Company MN now owns 44,685 shares of the shipping company’s stock worth $254,000 after buying an additional 17,550 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Gener8 Maritime by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 222,466 shares of the shipping company’s stock worth $1,261,000 after buying an additional 2,254 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Gener8 Maritime in the first quarter worth about $226,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Gener8 Maritime by 455.8% in the first quarter. Parametric Portfolio Associates LLC now owns 76,413 shares of the shipping company’s stock worth $433,000 after buying an additional 62,665 shares in the last quarter.
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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