Gener8 Maritime Inc (NASDAQ:GNRT) – Research analysts at Seaport Global Securities dropped their FY2016 earnings estimates for shares of Gener8 Maritime in a research report issued on Wednesday. Seaport Global Securities analyst M. Fyhr now anticipates that the firm will earn $1.45 per share for the year, down from their previous estimate of $1.46.

Gener8 Maritime (NASDAQ:GNRT) last issued its quarterly earnings data on Monday, November 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.03. The company earned $69.10 million during the quarter, compared to analyst estimates of $78.71 million. During the same period last year, the business earned $0.44 earnings per share. Gener8 Maritime’s quarterly revenue was down 12.3% on a year-over-year basis.

COPYRIGHT VIOLATION NOTICE: “FY2016 EPS Estimates for Gener8 Maritime Inc (GNRT) Reduced by Seaport Global Securities” was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at http://www.watchlistnews.com/fy2016-eps-estimates-for-gener8-maritime-inc-gnrt-reduced-by-seaport-global-securities/1061191.html.

Separately, Zacks Investment Research downgraded Gener8 Maritime from a “hold” rating to a “strong sell” rating in a report on Thursday, October 13th.

Gener8 Maritime (NASDAQ:GNRT) opened at 4.49 on Thursday. The company has a market capitalization of $371.24 million and a price-to-earnings ratio of 3.49. Gener8 Maritime has a one year low of $3.52 and a one year high of $8.75. The company has a 50-day moving average price of $4.26 and a 200-day moving average price of $4.93.

COPYRIGHT VIOLATION NOTICE: “FY2016 EPS Estimates for Gener8 Maritime Inc (GNRT) Reduced by Seaport Global Securities” was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at http://www.watchlistnews.com/fy2016-eps-estimates-for-gener8-maritime-inc-gnrt-reduced-by-seaport-global-securities/1061191.html.

Several large investors have recently added to or reduced their stakes in the company. Senvest Management LLC increased its position in shares of Gener8 Maritime by 1.6% in the third quarter. Senvest Management LLC now owns 2,903,483 shares of the company’s stock worth $14,866,000 after buying an additional 45,341 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Gener8 Maritime by 12.0% in the third quarter. BlackRock Fund Advisors now owns 1,044,882 shares of the company’s stock worth $5,350,000 after buying an additional 111,550 shares during the last quarter. UBS Oconnor LLC increased its position in shares of Gener8 Maritime by 4.2% in the third quarter. UBS Oconnor LLC now owns 1,016,063 shares of the company’s stock worth $5,202,000 after buying an additional 40,952 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of 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 last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of 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 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.

5 Day Chart for NASDAQ:GNRT

Receive News & Ratings for Gener8 Maritime Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gener8 Maritime Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.