-$0.21 EPS Expected for Gener8 Maritime Inc (GNRT) This Quarter

Equities analysts forecast that Gener8 Maritime Inc (NYSE:GNRT) will post earnings per share of ($0.21) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Gener8 Maritime’s earnings. The highest EPS estimate is ($0.06) and the lowest is ($0.34). Gener8 Maritime posted earnings of $0.24 per share in the same quarter last year, which would suggest a negative year over year growth rate of 187.5%. The business is expected to issue its next earnings results on Monday, March 12th.

According to Zacks, analysts expect that Gener8 Maritime will report full-year earnings of ($0.25) per share for the current financial year, with EPS estimates ranging from ($0.39) to ($0.08). For the next fiscal year, analysts forecast that the firm will post earnings of $0.14 per share, with EPS estimates ranging from ($0.32) to $0.59. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Gener8 Maritime.

Gener8 Maritime (NYSE:GNRT) last issued its earnings results on Thursday, November 9th. The shipping company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.06). Gener8 Maritime had a negative net margin of 34.10% and a positive return on equity of 1.16%. The company had revenue of $47.89 million during the quarter, compared to analyst estimates of $47.06 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The business’s revenue was down 30.7% on a year-over-year basis.

GNRT has been the topic of a number of recent analyst reports. Jefferies Group initiated coverage on Gener8 Maritime in a report on Monday, December 18th. They set a “buy” rating and a $10.00 price target on the stock. BidaskClub raised Gener8 Maritime from a “sell” rating to a “hold” rating in a report on Saturday, September 16th. Zacks Investment Research cut Gener8 Maritime from a “hold” rating to a “strong sell” rating in a report on Monday, October 23rd. Finally, UBS Group cut Gener8 Maritime from a “buy” rating to a “neutral” rating and lifted their price target for the company from $6.50 to $6.75 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $8.38.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. bought a new stake in Gener8 Maritime during the second quarter worth approximately $110,000. Voya Investment Management LLC raised its holdings in Gener8 Maritime by 29.3% during the second quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock worth $131,000 after purchasing an additional 5,219 shares in the last quarter. Smith Moore & CO. bought a new stake in Gener8 Maritime during the third quarter worth approximately $158,000. Russell Investments Group Ltd. raised its holdings in Gener8 Maritime by 2.4% during the second quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock worth $171,000 after purchasing an additional 700 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Gener8 Maritime by 65.3% during the third quarter. Wells Fargo & Company MN now owns 44,684 shares of the shipping company’s stock worth $201,000 after purchasing an additional 17,645 shares in the last quarter. 75.76% of the stock is currently owned by institutional investors.

Shares of Gener8 Maritime (NYSE:GNRT) opened at $6.37 on Friday. The firm has a market capitalization of $523.66 and a P/E ratio of -4.52. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.93. Gener8 Maritime has a twelve month low of $4.12 and a twelve month high of $6.94.

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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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