Jefferies Group LLC Reiterates Buy Rating for Gener8 Maritime Inc (NASDAQ:GNRT)
Gener8 Maritime Inc (NASDAQ:GNRT)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group LLC in a research note issued on Monday. They presently have a $10.00 target price on the shipping company’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 101.61% from the company’s previous close. Jefferies Group also issued estimates for Gener8 Maritime’s FY2018 earnings at $0.75 EPS.
Several other analysts have also issued reports on the company. BidaskClub lowered Gener8 Maritime from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research downgraded Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Finally, ValuEngine downgraded Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, two 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 a consensus target price of $7.50.
Shares of Gener8 Maritime (NASDAQ GNRT) opened at 4.96 on Monday. The stock’s market cap is $411.62 million. The firm has a 50 day moving average price of $5.56 and a 200 day moving average price of $5.28. Gener8 Maritime has a 12-month low of $3.52 and a 12-month high of $6.40.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. Gener8 Maritime had a net margin of 21.84% and a return on equity of 7.42%. The company had revenue of $74.95 million for the quarter, compared to the consensus estimate of $76.55 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue for the quarter was down 29.3% on a year-over-year basis. On average, equities analysts expect that Gener8 Maritime will post $0.08 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new position in shares of Gener8 Maritime during the second quarter valued at approximately $110,000. American International Group Inc. increased its position in shares of 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 during the last quarter. Alliancebernstein L.P. increased its position in shares of 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 during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Gener8 Maritime during the second quarter valued at approximately $165,000. Finally, Russell Investments Group Ltd. increased its position in shares of 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 during 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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