Gener8 Maritime, Inc. Forecasted to Post FY2017 Earnings of ($0.12) Per Share (GNRT)
Gener8 Maritime, Inc. (NYSE:GNRT) – Investment analysts at Jefferies Group issued their FY2017 earnings per share estimates for shares of Gener8 Maritime in a report issued on Monday. Jefferies Group analyst R. Giveans forecasts that the shipping company will post earnings of ($0.12) per share for the year. Jefferies Group has a “Buy” rating and a $10.00 price objective on the stock. Jefferies Group also issued estimates for Gener8 Maritime’s Q4 2017 earnings at ($0.06) EPS and FY2018 earnings at $0.59 EPS.
Gener8 Maritime (NYSE:GNRT) last released its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.06). Gener8 Maritime had a positive return on equity of 1.16% and a negative net margin of 34.10%. The company had revenue of $47.89 million for the quarter, compared to analysts’ expectations of $47.06 million. During the same period in the prior year, the business earned ($0.01) EPS. The business’s quarterly revenue was down 30.7% compared to the same quarter last year.
Shares of Gener8 Maritime (GNRT) opened at $4.28 on Wednesday. Gener8 Maritime has a twelve month low of $4.11 and a twelve month high of $6.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $368.47, a P/E ratio of 23.37 and a beta of 1.40.
Institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its position in shares of Gener8 Maritime by 15.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 273,454 shares of the shipping company’s stock worth $1,556,000 after purchasing an additional 36,514 shares during the last quarter. Nationwide Fund Advisors raised its holdings in Gener8 Maritime by 385.0% in the 2nd quarter. Nationwide Fund Advisors now owns 109,039 shares of the shipping company’s stock valued at $620,000 after acquiring an additional 86,557 shares during the last quarter. State Street Corp raised its holdings in Gener8 Maritime by 11.0% in the 2nd quarter. State Street Corp now owns 1,069,056 shares of the shipping company’s stock valued at $6,080,000 after acquiring an additional 106,359 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Gener8 Maritime by 29.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 127,131 shares of the shipping company’s stock valued at $723,000 after acquiring an additional 28,746 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in Gener8 Maritime in the 2nd quarter valued at $268,000. Hedge funds and other institutional investors own 76.02% of the company’s stock.
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About Gener8 Maritime
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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