Zacks: Gener8 Maritime Inc (NASDAQ:GNRT) Receives Consensus Rating of “Buy” from Brokerages
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) have been assigned a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have given a strong buy rating to the company. Gener8 Maritime’s rating score has declined by 19.3% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price target of $8.67 for the company and are expecting that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also assigned Gener8 Maritime an industry rank of 227 out of 265 based on the ratings given to related companies.
A number of research firms recently issued reports on GNRT. Jefferies Group reiterated a “buy” rating on shares of Gener8 Maritime in a research report on Tuesday, September 6th. Zacks Investment Research downgraded shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Citigroup Inc. reiterated a “buy” rating and set a $12.00 target price on shares of Gener8 Maritime in a research report on Friday, July 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $5.00 target price (down previously from $9.00) on shares of Gener8 Maritime in a research report on Friday, August 26th.
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In related news, VP Leonard J. Vrondissis sold 14,312 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $5.30, for a total transaction of $75,853.60. Following the transaction, the vice president now owns 9,583 shares in the company, valued at approximately $50,789.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. acquired a new position in Gener8 Maritime during the second quarter valued at $125,000. Tower Research Capital LLC TRC increased its position in Gener8 Maritime by 1,565.4% in the second quarter. Tower Research Capital LLC TRC now owns 22,650 shares of the company’s stock valued at $145,000 after buying an additional 21,290 shares during the last quarter. American International Group Inc. increased its position in Gener8 Maritime by 131.1% in the second quarter. American International Group Inc. now owns 22,600 shares of the company’s stock valued at $145,000 after buying an additional 12,821 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in Gener8 Maritime during the second quarter valued at $188,000. Finally, Rhumbline Advisers increased its position in Gener8 Maritime by 70.4% in the second quarter. Rhumbline Advisers now owns 37,114 shares of the company’s stock valued at $238,000 after buying an additional 15,329 shares during the last quarter.
Shares of Gener8 Maritime (NASDAQ:GNRT) traded down 1.54% on Tuesday, hitting $5.10. 90,479 shares of the stock were exchanged. Gener8 Maritime has a 1-year low of $4.81 and a 1-year high of $12.65. The stock has a market cap of $421.67 million and a price-to-earnings ratio of 2.38. The stock’s 50-day moving average is $5.35 and its 200-day moving average is $6.35.
Gener8 Maritime (NASDAQ:GNRT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. The firm had revenue of $105.96 million for the quarter, compared to the consensus estimate of $109.89 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business’s revenue was down 9.0% on a year-over-year basis. Analysts forecast that Gener8 Maritime will post $1.85 earnings per share for the current year.
Gener8 Maritime Company Profile
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.
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