Gener8 Maritime Inc (GNRT) Receives Consensus Rating of “Hold” from Analysts

Gener8 Maritime Inc (NYSE:GNRT) has received an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $10.00.

Several analysts have recently commented on GNRT shares. BidaskClub raised shares of Gener8 Maritime from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Zacks Investment Research raised shares of Gener8 Maritime from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Jefferies Group started coverage on shares of Gener8 Maritime in a research note on Monday, December 18th. They set a “buy” rating and a $10.00 price target on the stock. Citigroup cut shares of Gener8 Maritime from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 23rd. Finally, UBS Group reissued a “neutral” rating on shares of Gener8 Maritime in a research note on Thursday, January 4th.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in Gener8 Maritime by 115.7% in the second quarter. FMR LLC now owns 7,007,841 shares of the shipping company’s stock valued at $39,875,000 after acquiring an additional 3,758,798 shares during the last quarter. Vanguard Group Inc. boosted its stake in Gener8 Maritime by 5.8% in the second quarter. Vanguard Group Inc. now owns 1,384,978 shares of the shipping company’s stock valued at $7,881,000 after acquiring an additional 75,323 shares during the last quarter. State Street Corp boosted its stake in Gener8 Maritime by 11.0% in the second quarter. State Street Corp now owns 1,069,056 shares of the shipping company’s stock valued at $6,080,000 after acquiring an additional 106,359 shares during the last quarter. Royce & Associates LP boosted its stake in Gener8 Maritime by 11.0% in the third quarter. Royce & Associates LP now owns 960,526 shares of the shipping company’s stock valued at $4,332,000 after acquiring an additional 95,500 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Gener8 Maritime by 10.5% in the second quarter. Northern Trust Corp now owns 838,560 shares of the shipping company’s stock valued at $4,771,000 after acquiring an additional 79,942 shares during the last quarter. 75.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Gener8 Maritime (GNRT) opened at $6.12 on Friday. Gener8 Maritime has a 52 week low of $4.17 and a 52 week high of $6.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $513.76, a P/E ratio of -4.34 and a beta of 1.40.

Gener8 Maritime (NYSE:GNRT) last released its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $47.06 million. During the same period last year, the company earned ($0.01) earnings per share. Gener8 Maritime’s revenue for the quarter was down 30.7% compared to the same quarter last year. analysts anticipate that Gener8 Maritime will post -0.22 EPS for the current fiscal year.

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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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