Gener8 Maritime’s (GNRT) Buy Rating Reiterated at Jefferies Group


Gener8 Maritime Inc (NASDAQ:GNRT)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a report issued on Monday.
Several other brokerages also recently commented on GNRT. Zacks Investment Research downgraded Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Citigroup Inc. lowered their price objective on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $5.00 target price (down from $9.00) on shares of Gener8 Maritime in a report on Friday, August 26th.
Shares of Gener8 Maritime (NASDAQ:GNRT) traded up 0.51% during trading on Monday, reaching $5.95. The company’s stock had a trading volume of 339,534 shares. The stock has a market cap of $491.95 million and a P/E ratio of 2.78. The stock has a 50-day moving average of $5.38 and a 200-day moving average of $6.37. Gener8 Maritime has a 52-week low of $4.81 and a 52-week high of $13.21.

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Gener8 Maritime (NASDAQ:GNRT) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by $0.01. The firm earned $105.96 million during the quarter, compared to analysts’ expectations of $109.89 million. The firm’s revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. Analysts predict that Gener8 Maritime will post $1.89 earnings per share for the current fiscal year.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $5.30, for a total value of $75,853.60. Following the completion of the transaction, the vice president now directly owns 9,583 shares of the company’s stock, valued at $50,789.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
A hedge fund recently bought a new stake in Gener8 Maritime stock. James Investment Research Inc. bought a new stake in shares of Gener8 Maritime Inc (NASDAQ:GNRT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 89,690 shares of the company’s stock, valued at approximately $574,000. James Investment Research Inc. owned about 0.11% of Gener8 Maritime as of its most recent SEC filing.
About Gener8 Maritime
Gener8 Maritime, Inc, formerly General Maritime Corporation, is a provider of international seaborne crude oil transportation services. The Company operates through the segment, which includes the transportation of international seaborne crude oil and petroleum products with its fleet of vessels. The Company owns a fleet of over 45 tankers, including 31 vessels on the water consisting of 14 Very Large Crude Carriers (VLCCs), approximately 11 Suezmax vessels, over four Aframax vessels and approximately two Panamax vessels with an aggregate carrying capacity of approximately 6.6 million deadweight tons.

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