Morgan Stanley Boosts Gener8 Maritime (GNRT) Price Target to $7.00

Gener8 Maritime (NYSE:GNRT) had its price target hoisted by equities research analysts at Morgan Stanley from $5.50 to $7.00 in a note issued to investors on Monday. The firm currently has an “equal weight” rating on the shipping company’s stock. Morgan Stanley’s price objective indicates a potential upside of 22.59% from the stock’s previous close.

Several other equities research analysts have also recently commented on GNRT. Citigroup cut shares of Gener8 Maritime from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 23rd. BidaskClub upgraded Gener8 Maritime from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Jefferies Group restated a “buy” rating on shares of Gener8 Maritime in a report on Thursday, October 19th. UBS Group restated a “neutral” rating on shares of Gener8 Maritime in a report on Thursday, January 4th. Finally, Zacks Investment Research downgraded Gener8 Maritime from a “hold” rating to a “strong sell” rating in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.92.

Shares of Gener8 Maritime (NYSE GNRT) traded up $0.38 during trading on Monday, reaching $5.71. 517,609 shares of the company’s stock traded hands, compared to its average volume of 701,255. 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 12-month low of $4.17 and a 12-month high of $6.94. The company has a market capitalization of $443.82, a PE ratio of -4.09 and a beta of 1.12.

Gener8 Maritime (NYSE:GNRT) last issued its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.06). Gener8 Maritime had a positive return on equity of 1.16% and a negative net margin of 34.10%. The business had revenue of $47.89 million during the quarter, compared to the consensus estimate of $47.06 million. During the same quarter last year, the firm posted ($0.01) earnings per share. Gener8 Maritime’s revenue was down 30.7% compared to the same quarter last year. equities research analysts anticipate that Gener8 Maritime will post -0.28 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new stake in Gener8 Maritime during the 4th quarter worth about $111,000. Royce & Associates LP raised its holdings in Gener8 Maritime by 13.6% during the 4th quarter. Royce & Associates LP now owns 1,091,389 shares of the shipping company’s stock worth $7,225,000 after buying an additional 130,863 shares during the period. Wells Fargo & Company MN raised its holdings in Gener8 Maritime by 45.1% during the 4th quarter. Wells Fargo & Company MN now owns 64,820 shares of the shipping company’s stock worth $429,000 after buying an additional 20,136 shares during the period. Kassirer Asset Management Corp acquired a new stake in Gener8 Maritime during the 4th quarter worth about $662,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Gener8 Maritime during the 4th quarter worth about $1,982,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

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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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