The Brokers Offer Predictions for Gener8 Maritime Inc’s Q3 2016 Earnings (GNRT)

The Brokers Offer Predictions for Gener8 Maritime Inc’s Q3 2016 Earnings (GNRT)

Gener8 Maritime Inc (NASDAQ:GNRT) – Research analysts at Seaport Global Securities lowered their Q3 2016 earnings estimates for shares of Gener8 Maritime in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will earn $0.15 per share for the quarter, down from their previous forecast of $0.30. Seaport Global Securities also issued estimates for Gener8 Maritime’s Q4 2016 earnings at $0.18 EPS, FY2016 earnings at $1.59 EPS, Q1 2017 earnings at $0.29 EPS, Q2 2017 earnings at $0.31 EPS, Q3 2017 earnings at $0.30 EPS, Q4 2017 earnings at $0.30 EPS and FY2017 earnings at $1.21 EPS.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Gener8 Maritime from a “hold” rating to a “strong sell” rating in a research report on Thursday. Jefferies Group reiterated a “buy” rating on shares of Gener8 Maritime in a research report on Monday, September 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $5.00 price objective (down from $9.00) on shares of Gener8 Maritime in a research report on Friday, August 26th. Finally, 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 report on Thursday, July 28th.

Gener8 Maritime (NASDAQ:GNRT) opened at 5.15 on Thursday. Gener8 Maritime has a 52-week low of $4.70 and a 52-week high of $12.15. The company has a market capitalization of $425.81 million and a price-to-earnings ratio of 2.40. The stock has a 50 day moving average price of $5.27 and a 200 day moving average price of $6.20.

Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ 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 company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share.

A number of hedge funds and other institutional investors have recently modified their holdings of GNRT. Boston Partners increased its position in shares of Gener8 Maritime by 78.8% in the second quarter. Boston Partners now owns 1,282,908 shares of the company’s stock valued at $8,211,000 after buying an additional 565,513 shares during the period. BlackRock Fund Advisors increased its position in shares of Gener8 Maritime by 131.9% in the second quarter. BlackRock Fund Advisors now owns 933,332 shares of the company’s stock valued at $5,973,000 after buying an additional 530,872 shares during the period. UBS Oconnor LLC increased its position in shares of Gener8 Maritime by 16.3% in the second quarter. UBS Oconnor LLC now owns 926,211 shares of the company’s stock valued at $5,928,000 after buying an additional 130,039 shares during the period. Point72 Asset Management L.P. increased its position in shares of Gener8 Maritime by 61.8% in the second quarter. Point72 Asset Management L.P. now owns 885,100 shares of the company’s stock valued at $5,665,000 after buying an additional 337,900 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Gener8 Maritime by 37.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 879,557 shares of the company’s stock valued at $5,629,000 after buying an additional 241,741 shares during the period.

In related news, VP Leonard J. Vrondissis sold 14,312 shares of Gener8 Maritime stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $5.30, for a total transaction of $75,853.60. Following the completion of the transaction, the vice president now directly owns 9,583 shares in the company, valued at approximately $50,789.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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