Q4 2018 Earnings Estimate for Gener8 Maritime Inc (GNRT) Issued By Seaport Global Securities
Gener8 Maritime Inc (NYSE:GNRT) – Equities researchers at Seaport Global Securities lowered their Q4 2018 earnings per share estimates for Gener8 Maritime in a research report issued on Thursday. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will earn $0.11 per share for the quarter, down from their prior estimate of $0.13. Seaport Global Securities also issued estimates for Gener8 Maritime’s Q1 2019 earnings at $0.16 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.16 EPS and Q4 2019 earnings at $0.17 EPS.
A number of other brokerages have also recently issued reports on GNRT. Jefferies Group reiterated a “buy” rating and set a $10.00 target price on shares of Gener8 Maritime in a research report on Thursday, September 21st. UBS Group cut shares of Gener8 Maritime from a “buy” rating to a “neutral” rating and increased their target price for the stock from $6.50 to $6.75 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Gener8 Maritime from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, BidaskClub cut shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Gener8 Maritime currently has a consensus rating of “Hold” and an average price target of $8.38.
Shares of Gener8 Maritime (NYSE GNRT) traded down $0.13 during trading on Monday, hitting $6.31. 309,673 shares of the company were exchanged, compared to its average volume of 615,667. The firm has a market cap of $523.66 and a PE ratio of -4.48. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.93. Gener8 Maritime has a 1-year low of $4.11 and a 1-year high of $6.94.
Gener8 Maritime (NYSE:GNRT) last announced its earnings results on Thursday, November 9th. The shipping company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.06). The firm had revenue of $47.89 million for the quarter, compared to analyst estimates of $47.06 million. Gener8 Maritime had a positive return on equity of 1.16% and a negative net margin of 34.10%. The company’s revenue for the quarter was down 30.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) EPS.
Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new stake in Gener8 Maritime in the 2nd quarter valued at about $110,000. Voya Investment Management LLC increased its position in Gener8 Maritime by 29.3% in the 2nd 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 in the last quarter. Smith Moore & CO. acquired a new stake in Gener8 Maritime in the 3rd quarter valued at about $158,000. Russell Investments Group Ltd. increased its position in Gener8 Maritime by 2.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock valued at $171,000 after acquiring an additional 700 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Gener8 Maritime by 65.3% in the 3rd quarter. Wells Fargo & Company MN now owns 44,684 shares of the shipping company’s stock valued at $201,000 after acquiring an additional 17,645 shares in the last quarter. Hedge funds and other institutional investors own 75.76% of the company’s stock.
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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