Gener8 Maritime Inc (GNRT) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Gener8 Maritime Inc (NASDAQ:GNRT) from a sell rating to a hold rating in a research report report published on Wednesday morning.
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. “
Several other equities research analysts have also recently commented on the stock. Jefferies Group LLC reiterated a buy rating and issued a $10.00 price target on shares of Gener8 Maritime in a research report on Thursday, September 21st. BidaskClub raised Gener8 Maritime from a sell rating to a hold rating in a research note on Saturday, September 16th. TheStreet raised Gener8 Maritime from a d rating to a c- rating in a research note on Wednesday, August 9th. Finally, ValuEngine cut Gener8 Maritime from a buy rating to a hold rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $10.00.
Shares of Gener8 Maritime (GNRT) opened at 4.63 on Wednesday. The stock’s market cap is $384.23 million. The company has a 50-day moving average of $4.65 and a 200 day moving average of $4.65. Gener8 Maritime has a 52-week low of $3.52 and a 52-week high of $5.69.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). Gener8 Maritime had a negative net margin of 110.14% and a negative return on equity of 23.25%. The firm had revenue of $74.95 million for the quarter, compared to analyst estimates of $76.55 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was down 29.3% compared to the same quarter last year. Equities research analysts forecast that Gener8 Maritime will post ($0.05) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace North America L.P. acquired a new position in shares of Gener8 Maritime in the second quarter valued at $110,000. Voya Investment Management LLC grew its position in Gener8 Maritime by 29.3% in the second quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock valued at $131,000 after acquiring an additional 5,219 shares during the period. American International Group Inc. grew its position in Gener8 Maritime by 7.1% in the first quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock valued at $137,000 after acquiring an additional 1,598 shares during the period. Alliancebernstein L.P. grew its position in Gener8 Maritime by 4.7% in the first quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock valued at $139,000 after acquiring an additional 1,100 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Gener8 Maritime in the second quarter valued at $165,000.
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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