Gener8 Maritime Inc (GNRT) Upgraded to C- by TheStreet
Gener8 Maritime Inc (NASDAQ:GNRT) was upgraded by investment analysts at TheStreet from a “d” rating to a “c-” rating in a research note issued on Wednesday.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Gener8 Maritime from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. BidaskClub cut Gener8 Maritime from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Gener8 Maritime in a research note on Monday. Finally, ValuEngine cut Gener8 Maritime from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.50.
Shares of Gener8 Maritime (GNRT) opened at 4.61 on Wednesday. The stock’s market capitalization is $382.57 million. The company has a 50-day moving average price of $5.47 and a 200-day moving average price of $5.27. Gener8 Maritime has a 52-week low of $3.52 and a 52-week high of $6.40.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings data on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.05. The business had revenue of $74.95 million during the quarter, compared to analyst estimates of $76.55 million. The company’s revenue was down 29.3% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. On average, equities analysts anticipate that Gener8 Maritime will post ($0.02) earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in Gener8 Maritime by 2.4% in the second quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock valued at $171,000 after buying an additional 700 shares in the last quarter. Alliancebernstein L.P. boosted 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 buying an additional 1,100 shares in the last quarter. American International Group Inc. boosted 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 buying an additional 1,598 shares in the last quarter. Bank of New York Mellon Corp boosted its position in 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 valued at $1,261,000 after buying an additional 2,254 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Gener8 Maritime by 27.0% in the second quarter. Aperio Group LLC now owns 50,607 shares of the shipping company’s stock valued at $288,000 after buying an additional 10,761 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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