Gener8 Maritime Inc (GNRT) Received Average Recommendation of “Hold” by Brokerages

Gener8 Maritime Inc (GNRT) Received Average Recommendation of “Hold” by Brokerages

Shares of Gener8 Maritime Inc (NASDAQ:GNRT) have been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of research firms have 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 cut Gener8 Maritime from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Investment Research upgraded Gener8 Maritime from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th.

Gener8 Maritime (NASDAQ GNRT) traded down 1.52% during mid-day trading on Monday, reaching $5.17. The company had a trading volume of 107,073 shares. Gener8 Maritime has a 12 month low of $3.52 and a 12 month high of $7.83. The stock has a market cap of $428.90 million and a PE ratio of 13.22. The firm’s 50-day moving average price is $5.25 and its 200-day moving average price is $4.91.

Gener8 Maritime (NASDAQ:GNRT) last released its earnings results on Tuesday, May 9th. The shipping company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The firm had revenue of $121.06 million for the quarter, compared to the consensus estimate of $114.54 million. Gener8 Maritime’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. Equities research analysts forecast that Gener8 Maritime will post $0.18 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of GNRT. American International Group Inc. increased its position 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 worth $137,000 after buying an additional 1,598 shares in the last quarter. Alliancebernstein L.P. increased its position in Gener8 Maritime by 4.7% in the first quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock worth $139,000 after buying an additional 1,100 shares in the last quarter. Two Sigma Investments LP acquired a new position in Gener8 Maritime during the fourth quarter worth approximately $144,000. Marshall Wace LLP acquired a new position in Gener8 Maritime during the fourth quarter worth approximately $149,000. Finally, Tower Research Capital LLC TRC increased its position in Gener8 Maritime by 118.7% in the first quarter. Tower Research Capital LLC TRC now owns 30,298 shares of the shipping company’s stock worth $172,000 after buying an additional 16,443 shares in the last quarter.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:GNRT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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