Wall Street brokerages predict that Gener8 Maritime Inc (NYSE:GNRT) will post sales of $54.65 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Gener8 Maritime’s earnings, with the highest sales estimate coming in at $58.59 million and the lowest estimate coming in at $50.70 million. Gener8 Maritime posted sales of $99.58 million during the same quarter last year, which would indicate a negative year over year growth rate of 45.1%. The business is scheduled to announce its next quarterly earnings report 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 year, analysts expect that the firm will report sales of $211.51 million per share, with estimates ranging from $183.57 million to $239.30 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Gener8 Maritime.
Gener8 Maritime (NYSE:GNRT) last issued its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $47.89 million during the quarter, compared to the consensus estimate of $47.06 million. During the same period in the previous year, the firm earned ($0.01) EPS. The business’s revenue was down 30.7% on a year-over-year basis.
Several analysts recently commented on GNRT shares. BidaskClub raised Gener8 Maritime from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Jefferies Group reissued a “buy” rating on shares of Gener8 Maritime in a report on Thursday, October 19th. Zacks Investment Research lowered Gener8 Maritime from a “hold” rating to a “strong sell” rating in a report on Monday, October 23rd. UBS Group lowered Gener8 Maritime from a “buy” rating to a “neutral” rating and boosted their price target for the company from $6.50 to $6.75 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Finally, Citigroup lowered Gener8 Maritime from a “buy” rating to a “neutral” rating in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Gener8 Maritime has a consensus rating of “Hold” and an average price target of $8.38.
Shares of Gener8 Maritime (GNRT) traded down $0.19 on Wednesday, hitting $5.72. The company had a trading volume of 494,798 shares, compared to its average volume of 729,263. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.93. Gener8 Maritime has a one year low of $4.17 and a one year high of $6.94. The company has a market capitalization of $492.11, a price-to-earnings ratio of -4.06 and a beta of 1.12.
A number of large investors have recently added to or reduced their stakes in the business. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Gener8 Maritime during the fourth quarter valued at about $1,982,000. Gabelli Funds LLC bought a new stake in Gener8 Maritime during the fourth quarter valued at about $1,299,000. Schwab Charles Investment Management Inc. grew its holdings in Gener8 Maritime by 10.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 323,118 shares of the shipping company’s stock valued at $2,140,000 after purchasing an additional 31,106 shares during the period. Royce & Associates LP grew its holdings in Gener8 Maritime by 11.0% during the third 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 period. Finally, Wells Fargo & Company MN grew its holdings in Gener8 Maritime by 65.3% during the third quarter. Wells Fargo & Company MN now owns 44,684 shares of the shipping company’s stock valued at $201,000 after purchasing an additional 17,645 shares during the period. 75.76% of the stock is owned by institutional investors and hedge funds.
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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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