$54.65 Million in Sales Expected for Gener8 Maritime Inc (GNRT) This Quarter

Equities research analysts predict that Gener8 Maritime Inc (NYSE:GNRT) will report sales of $54.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Gener8 Maritime’s earnings, with the lowest sales estimate coming in at $50.70 million and the highest estimate coming in at $58.59 million. Gener8 Maritime reported sales of $99.58 million in the same quarter last year, which would suggest a negative year over year growth rate of 45.1%. The company is expected to issue its next quarterly earnings results on Monday, March 12th.

According to Zacks, analysts expect that Gener8 Maritime will report full year sales of $54.65 million for the current year, with estimates ranging from $290.05 million to $300.33 million. For the next financial year, analysts forecast that the firm will report sales of $211.51 million per share, with estimates ranging from $183.57 million to $239.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Gener8 Maritime.

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 analysts’ consensus estimates of ($0.33) by ($0.06). The company had revenue of $47.89 million during the quarter, compared to analysts’ expectations of $47.06 million. Gener8 Maritime had a negative net margin of 34.10% and a positive return on equity of 1.16%. The company’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share.

A number of equities research analysts recently commented on GNRT shares. Jefferies Group started coverage on Gener8 Maritime in a research report on Monday, December 18th. They issued a “buy” rating and a $10.00 price target for the company. BidaskClub raised Gener8 Maritime from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised Gener8 Maritime from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Citigroup lowered Gener8 Maritime from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 23rd. Finally, UBS Group reissued a “neutral” rating on shares of Gener8 Maritime in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Gener8 Maritime has a consensus rating of “Hold” and a consensus target price of $8.38.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNRT. FMR LLC increased its position in shares of Gener8 Maritime by 115.7% during the 2nd quarter. FMR LLC now owns 7,007,841 shares of the shipping company’s stock valued at $39,875,000 after purchasing an additional 3,758,798 shares during the last quarter. State Street Corp increased its position in shares of Gener8 Maritime by 11.0% during the 2nd quarter. State Street Corp now owns 1,069,056 shares of the shipping company’s stock valued at $6,080,000 after purchasing an additional 106,359 shares during the last quarter. Royce & Associates LP increased its position in shares of Gener8 Maritime by 11.0% during the 3rd quarter. Royce & Associates LP now owns 960,526 shares of the shipping company’s stock valued at $4,332,000 after purchasing an additional 95,500 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Gener8 Maritime by 385.0% during the 2nd quarter. Nationwide Fund Advisors now owns 109,039 shares of the shipping company’s stock valued at $620,000 after purchasing an additional 86,557 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Gener8 Maritime by 10.5% during the 2nd quarter. Northern Trust Corp now owns 838,560 shares of the shipping company’s stock valued at $4,771,000 after purchasing an additional 79,942 shares during the last quarter. 75.76% of the stock is owned by institutional investors and hedge funds.

Shares of Gener8 Maritime (NYSE:GNRT) opened at $6.03 on Wednesday. The company has a market capitalization of $494.61, a price-to-earnings ratio of 31.26 and a beta of 1.40. Gener8 Maritime has a 12-month low of $4.17 and a 12-month high of $6.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.62 and a quick ratio of 1.62.

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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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