Gener8 Maritime’s (GNRT) “Neutral” Rating Reaffirmed at UBS Group

UBS Group restated their neutral rating on shares of Gener8 Maritime (NYSE:GNRT) in a research report released on Thursday.

A number of other analysts have also recently commented on GNRT. BidaskClub raised shares of Gener8 Maritime from a sell rating to a hold rating in a research report on Wednesday, October 18th. Jefferies Group reaffirmed a buy rating on shares of Gener8 Maritime in a research report on Thursday, October 19th. Finally, Zacks Investment Research cut shares of Gener8 Maritime from a hold rating to a strong sell rating in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $8.38.

Shares of Gener8 Maritime (GNRT) traded up $0.14 during trading on Thursday, hitting $6.82. 1,144,800 shares of the company traded hands, compared to its average volume of 811,333. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.93. Gener8 Maritime has a one year low of $4.11 and a one year high of $6.94. The company has a market capitalization of $556.23, a PE ratio of -4.84 and a beta of 1.40.

Gener8 Maritime (NYSE:GNRT) last issued its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.39) earnings per share for the quarter, missing the 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 business had revenue of $47.89 million during the quarter, compared to the consensus estimate of $47.06 million. During the same period in the prior year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was down 30.7% compared to the same quarter last year. equities research analysts anticipate that Gener8 Maritime will post -0.14 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in Gener8 Maritime by 2.4% during the second quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock valued at $171,000 after acquiring an additional 700 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Gener8 Maritime by 5.8% during the second quarter. California State Teachers Retirement System now owns 83,624 shares of the shipping company’s stock valued at $476,000 after purchasing an additional 4,600 shares during the period. Voya Investment Management LLC raised its holdings in shares of Gener8 Maritime by 29.3% during the second quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock valued at $131,000 after purchasing an additional 5,219 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Gener8 Maritime by 17.3% during the second quarter. The Manufacturers Life Insurance Company now owns 40,842 shares of the shipping company’s stock valued at $232,000 after purchasing an additional 6,022 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Gener8 Maritime by 25.1% during the second quarter. Rhumbline Advisers now owns 54,080 shares of the shipping company’s stock valued at $308,000 after purchasing an additional 10,845 shares during the period. 76.02% of the stock is currently owned by institutional investors and hedge funds.

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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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