Zacks: Analysts Anticipate Gener8 Maritime Inc (GNRT) Will Announce Quarterly Sales of $79.78 Million
Wall Street analysts expect Gener8 Maritime Inc (NASDAQ:GNRT) to announce $79.78 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Gener8 Maritime’s earnings, with the highest sales estimate coming in at $84.45 million and the lowest estimate coming in at $75.10 million. Gener8 Maritime posted sales of $105.96 million during the same quarter last year, which suggests a negative year-over-year growth rate of 24.7%. The company is scheduled to issue its next earnings results on Wednesday, July 26th.
On average, analysts expect that Gener8 Maritime will report full year sales of $79.78 million for the current fiscal year, with estimates ranging from $336.50 million to $342.45 million. For the next financial year, analysts anticipate that the business will report sales of $380.02 million per share, with estimates ranging from $368.16 million to $393.69 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Gener8 Maritime.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings data on Tuesday, May 9th. The shipping company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. Gener8 Maritime had a net margin of 21.84% and a return on equity of 7.42%. The business had revenue of $121.06 million for the quarter, compared to analyst estimates of $114.54 million. During the same period last year, the business earned $0.78 EPS. The company’s revenue was down .5% on a year-over-year basis.
A number of research analysts have recently commented on GNRT shares. Zacks Investment Research raised shares of Gener8 Maritime from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. Jefferies Group LLC reissued a “buy” rating on shares of Gener8 Maritime in a research report on Friday, March 24th. Finally, ValuEngine cut shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.00.
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A number of hedge funds have recently bought and sold shares of GNRT. State Street Corp boosted its stake in Gener8 Maritime by 10.2% in the fourth quarter. State Street Corp now owns 808,524 shares of the shipping company’s stock valued at $3,625,000 after buying an additional 75,020 shares in the last quarter. Teachers Advisors LLC boosted its stake in Gener8 Maritime by 43.2% in the fourth quarter. Teachers Advisors LLC now owns 88,029 shares of the shipping company’s stock valued at $394,000 after buying an additional 26,555 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Gener8 Maritime during the fourth quarter valued at about $303,000. AQR Capital Management LLC boosted its stake in Gener8 Maritime by 36.3% in the fourth quarter. AQR Capital Management LLC now owns 751,898 shares of the shipping company’s stock valued at $3,368,000 after buying an additional 200,209 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in Gener8 Maritime during the fourth quarter valued at about $144,000.
Shares of Gener8 Maritime (GNRT) opened at 5.61 on Friday. The firm has a market capitalization of $465.41 million and a price-to-earnings ratio of 14.35. Gener8 Maritime has a one year low of $3.52 and a one year high of $6.61. The stock has a 50 day moving average of $5.30 and a 200-day moving average of $5.08.
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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