Analysts predict that Gener8 Maritime Inc (NASDAQ:GNRT) will report $79.78 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Gener8 Maritime’s earnings, with the lowest sales estimate coming in at $75.10 million and the highest estimate coming in at $84.45 million. Gener8 Maritime reported sales of $105.96 million during the same quarter last year, which indicates a negative year over year growth rate of 24.7%. The firm is expected to announce its next earnings results before the market opens on Tuesday, August 1st.
On average, analysts expect that Gener8 Maritime will report full year sales of $79.78 million for the current fiscal year, with estimates ranging from $336.50 million to $342.45 million. For the next year, analysts anticipate that the business will report sales of $380.02 million per share, with estimates ranging from $368.16 million to $393.69 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Gener8 Maritime.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings results on Tuesday, May 9th. The shipping company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Gener8 Maritime had a net margin of 21.84% and a return on equity of 7.42%. The business had revenue of $121.06 million for the quarter, compared to analysts’ expectations of $114.54 million. During the same period last year, the business earned $0.78 EPS. The company’s revenue was down .5% compared to the same quarter last year.
A number of brokerages have recently commented on GNRT. BidaskClub downgraded Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research downgraded Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. ValuEngine downgraded Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $10.00 price objective on shares of Gener8 Maritime in a research report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, two 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 price target of $7.50.
Shares of Gener8 Maritime (NASDAQ:GNRT) opened at 5.35 on Tuesday. The stock has a 50 day moving average of $5.56 and a 200-day moving average of $5.27. The company has a market capitalization of $443.84 million and a PE ratio of 13.68. Gener8 Maritime has a 12-month low of $3.52 and a 12-month high of $6.40.
Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of Gener8 Maritime by 13.7% in the second quarter. Acadian Asset Management LLC now owns 205,922 shares of the shipping company’s stock worth $1,171,000 after buying an additional 24,802 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Gener8 Maritime by 2.4% in the second quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock worth $171,000 after buying an additional 700 shares in the last quarter. Aperio Group LLC increased its position in shares of Gener8 Maritime by 27.0% in the second quarter. Aperio Group LLC now owns 50,607 shares of the shipping company’s stock worth $288,000 after buying an additional 10,761 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Gener8 Maritime during the second quarter worth approximately $165,000. Finally, Tower Research Capital LLC TRC increased its position in shares of 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.
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