Gener8 Maritime Inc (GNRT) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Gener8 Maritime Inc (NASDAQ:GNRT) announced its quarterly earnings results on Tuesday, August 1st. The shipping company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.05, Morningstar.com reports. The company had revenue of $74.95 million for the quarter, compared to the consensus estimate of $76.55 million. The company’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS.

Gener8 Maritime (NASDAQ GNRT) opened at 4.33 on Friday. Gener8 Maritime has a one year low of $3.52 and a one year high of $6.40. The stock has a 50 day moving average of $5.26 and a 200-day moving average of $5.26. The company’s market cap is $359.34 million.

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. bought a new stake in Gener8 Maritime during the second quarter valued at about $110,000. Voya Investment Management LLC boosted its stake in Gener8 Maritime by 29.3% in the second quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock valued at $131,000 after buying an additional 5,219 shares during the last quarter. American International Group Inc. boosted its stake in Gener8 Maritime by 7.1% in the first quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock valued at $137,000 after buying an additional 1,598 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Gener8 Maritime by 4.7% in the first quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock valued at $139,000 after buying an additional 1,100 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Gener8 Maritime during the fourth quarter valued at about $144,000.

WARNING: This story was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://www.com-unik.info/2017/08/19/gener8-maritime-inc-gnrt-posts-quarterly-earnings-results-misses-estimates-by-0-05-eps-updated-updated.html.

A number of brokerages recently commented on GNRT. TheStreet upgraded shares of Gener8 Maritime from a “d” rating to a “c-” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of Gener8 Maritime from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Gener8 Maritime in a report on Monday, August 7th. Zacks Investment Research lowered shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Finally, ValuEngine lowered shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.50.

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.

Earnings History for Gener8 Maritime (NASDAQ:GNRT)

What are top analysts saying about Gener8 Maritime Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Gener8 Maritime Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit