Morgan Stanley Reiterates Gener8 Maritime (NYSE:GNRT) As a Equal-Weight; They Now Have a Price Objective Of $7

February 13, 2018 - By Henry Gaston

 Morgan Stanley Reiterates Gener8 Maritime (NYSE:GNRT) As a Equal Weight; They Now Have a Price Objective Of $7

Gener8 Maritime (NYSE:GNRT) Rating Reaffirmed

Morgan Stanley now has a $7 price target on shares of Gener8 Maritime (NYSE:GNRT). The price target indicates a potential upside of 24.33 % from the last stock close of Gener8 Maritime (NYSE:GNRT). This rating was shown in a report on 12 February.

Gener8 Maritime, Inc. (NYSE:GNRT) Ratings Coverage

Among 6 analysts covering Gener8 Maritime (NYSE:GNRT), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. Gener8 Maritime has $17 highest and $6 lowest target. $9’s average target is 59.86% above currents $5.63 stock price. Gener8 Maritime had 15 analyst reports since September 14, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, July 27 by Jefferies. Citigroup downgraded the stock to “Hold” rating in Tuesday, January 23 report. Jefferies maintained Gener8 Maritime, Inc. (NYSE:GNRT) on Tuesday, May 30 with “Buy” rating. On Monday, July 3 the stock rating was maintained by Jefferies with “Buy”. UBS downgraded the shares of GNRT in report on Thursday, January 4 to “Neutral” rating. The rating was reinitiated by Seaport Global with “Buy” on Wednesday, May 4. Evercore downgraded the stock to “In-Line” rating in Tuesday, January 23 report. Jefferies maintained it with “Buy” rating and $8.0 target in Friday, January 26 report. As per Monday, December 18, the company rating was reinitiated by Jefferies. The rating was maintained by Jefferies with “Buy” on Monday, August 7.

The stock increased 0.54% or $0.03 during the last trading session, reaching $5.63. About 337,671 shares traded. Gener8 Maritime, Inc. (NYSE:GNRT) has declined 26.90% since February 13, 2017 and is downtrending. It has underperformed by 43.60% the S&P500.

Analysts await Gener8 Maritime, Inc. (NYSE:GNRT) to report earnings on March, 12. They expect $-0.10 EPS, down 143.48 % or $0.33 from last year’s $0.23 per share. After $-0.39 actual EPS reported by Gener8 Maritime, Inc. for the previous quarter, Wall Street now forecasts -74.36 % EPS growth.

Gener8 Maritime, Inc. engages in the transportation of international seaborne crude oil and petroleum products. The company has market cap of $468.80 million. As of March 13, 2017, it owned a fleet of 41 vessels, including 25 very large crude carriers, 10 suezmax vessels, 4 aframax vessels, and 2 panamax vessels, with an aggregate carrying capacity of 9.7 million deadweight tons. It currently has negative earnings. The firm was formerly known as General Maritime Corporation and changed its name to Gener8 Maritime, Inc. in May 2015.

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