Q3 2017 EPS Estimates for Gener8 Maritime Inc (GNRT) Reduced by Analyst
Gener8 Maritime Inc (NASDAQ:GNRT) – Equities research analysts at Jefferies Group reduced their Q3 2017 earnings estimates for shares of Gener8 Maritime in a research note issued to investors on Thursday. Jefferies Group analyst D. Mavrinac now forecasts that the shipping company will earn ($0.47) per share for the quarter, down from their previous forecast of ($0.37). Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Gener8 Maritime’s FY2017 earnings at ($0.12) EPS.
GNRT has been the topic of a number of other research reports. Zacks Investment Research upgraded Gener8 Maritime from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub downgraded Gener8 Maritime from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. ValuEngine downgraded Gener8 Maritime from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, TheStreet upgraded Gener8 Maritime from a “d” rating to a “c-” rating in a report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $10.00.
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Shares of Gener8 Maritime (NASDAQ GNRT) opened at 4.94 on Monday. The firm’s market capitalization is $409.96 million. Gener8 Maritime has a 52 week low of $3.52 and a 52 week high of $6.16. The firm has a 50-day moving average price of $4.71 and a 200-day moving average price of $4.71.
Gener8 Maritime (NASDAQ:GNRT) last issued its quarterly earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). Gener8 Maritime had a negative return on equity of 23.25% and a negative net margin of 110.14%. The business had revenue of $74.95 million during the quarter, compared to analyst estimates of $76.55 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was down 29.3% on a year-over-year basis.
Several hedge funds have recently modified their holdings of GNRT. Wells Fargo & Company MN grew its holdings in shares of Gener8 Maritime by 64.7% during the first quarter. Wells Fargo & Company MN now owns 44,685 shares of the shipping company’s stock valued at $254,000 after buying an additional 17,550 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Gener8 Maritime by 1.0% during 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. Karp Capital Management Corp purchased a new position in shares of Gener8 Maritime during the first quarter valued at $226,000. Parametric Portfolio Associates LLC grew its holdings in shares of Gener8 Maritime by 455.8% during the first quarter. Parametric Portfolio Associates LLC now owns 76,413 shares of the shipping company’s stock valued at $433,000 after buying an additional 62,665 shares in the last quarter. Finally, American International Group Inc. grew its holdings in shares of Gener8 Maritime by 7.1% during 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.
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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