Several other analysts have also issued reports on GNRT. Jefferies Group LLC reiterated a buy rating and set a $10.00 target price on shares of Gener8 Maritime in a report on Tuesday, May 30th. ValuEngine lowered Gener8 Maritime from a buy rating to a hold rating in a report on Saturday, June 3rd. BidaskClub lowered Gener8 Maritime from a buy rating to a hold rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research lowered Gener8 Maritime from a hold rating to a sell rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Gener8 Maritime presently has a consensus rating of Hold and a consensus price target of $7.50.
Gener8 Maritime (GNRT) opened at 4.52 on Wednesday. The company’s market capitalization is $375.11 million. Gener8 Maritime has a 52 week low of $3.52 and a 52 week high of $6.40. The company has a 50 day moving average price of $5.43 and a 200-day moving average price of $5.27.
Gener8 Maritime (NASDAQ:GNRT) last posted its quarterly earnings data on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.05. The firm had revenue of $74.95 million during the quarter, compared to the consensus estimate of $76.55 million. Gener8 Maritime’s revenue for the quarter was down 29.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. On average, equities analysts anticipate that Gener8 Maritime will post ($0.02) earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Gener8 Maritime by 10.2% in the fourth quarter. State Street Corp now owns 808,524 shares of the shipping company’s stock valued at $3,625,000 after buying an additional 75,020 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Gener8 Maritime during the fourth quarter valued at about $303,000. Teachers Advisors LLC raised its stake in Gener8 Maritime by 43.2% in the fourth quarter. Teachers Advisors LLC now owns 88,029 shares of the shipping company’s stock valued at $394,000 after buying an additional 26,555 shares during the last quarter. Acadian Asset Management LLC raised its stake in Gener8 Maritime by 190.9% in the first quarter. Acadian Asset Management LLC now owns 181,120 shares of the shipping company’s stock valued at $1,027,000 after buying an additional 118,853 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Gener8 Maritime by 64.7% in 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 during 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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