Citigroup Maintains Gener8 Maritime Inc to Buy with Price Target $9.00

Brokerage firm Citigroup Maintains its rating on Gener8 Maritime Inc(NYSE:GNRT). In a research note issued to the investors, the brokerage major Lowers the price-target to $9.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Jul 28, 2016.

In a different note, On Jul 27, 2016, Jefferies said it Maintains its rating on Gener8 Maritime Inc. In the research note, the firm Lowers the price-target to $17.00 per share. The shares have been rated ‘Buy’ by the firm. On May 4, 2016, Seaport Global said it Assumes its rating on Gener8 Maritime Inc. The shares have been rated ‘Buy’ by the firm.

Gener8 Maritime Inc (GNRT) shares turned negative on Thursdays trading session with the shares closing down -0.04 points or -0.78% at a volume of 1,76,457. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.29. The peak price level was also seen at $5.29 while the days lowest was $4.99. Finally the shares closed at $5.12. The 52-week high of the shares is $14.2 while the 52-week low is $4.81. According to the latest information available, the market cap of the company is $423 M.

Gener8 Maritime Inc(GNRT) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $101.76M. Analysts had an estimated revenue of $109.89M. Earnings per share were $0.51. Analysts had estimated an EPS of $0.52.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Leonard J. Vrondissis (EVP, Secretary and CFO) sold 25,000 shares at $6.83 per share price.Also, On Jun 26, 2015, John P Tavlarios (COO) purchased 15,000 shares at $13.03 per share price.

Gener8 Maritime Inc. (Gener8 Maritime) provides international seaborne crude oil transportation services. The Company is engaged in the transportation of crude oil and petroleum products. Gener8 Maritime owns a fleet of around 46 tankers including 25 vessels on the water consisting of seven very large crude carriers (VLCCs) including Genmar Zeus Genmar Atlas Genmar Hercules Genmar Ulysses Genmar Poseidon Genmar Victory and Genmar Vision; 11 Suezmax vessels including Genmar Spartiate Genmar Maniate Genmar St. Nikolas Genmar George T Genmar Kara G Genmar Harriet G Genmar Orion Genmar Argus Genmar Spyridon Genmar Horn and Genmar Phoenix; four Aframax vessels including Genmar Strength Genmar Daphne Genmar Defiance and Genmar Elektra; two Panamax vessels including Genmar Companion and Genmar Compatriot and one Handymax vessel Genmar Consul. Its vessels have an aggregate carrying capacity of around 4.5MM deadweight tons (DWT).

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