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Crude Oil Tanker Stocks: Estimates, Recommendations for 2Q17

PART:
1 2 3 4 5 6 7 8 9 10 11
Part 5
Crude Oil Tanker Stocks: Estimates, Recommendations for 2Q17 PART 5 OF 11

Gener8 Maritime: Best Performer YTD among Peers

Stock performance

Gener8 Maritime (GNRT) stock was trading at $5.64 on July 6, 2017, which is a 25.0% rise since the start of the year. Compared to its peers, GNRT had the highest year-to-date return. Nordic American Tankers (NAT) has fallen 26.5%, DHT Holdings (DHT) has risen 5.1%, Euronav (EURN) has fallen 3.1%, and Frontline (FRO) has fallen 18.9% in the same period.

Gener8 Maritime: Best Performer YTD among Peers

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Analyst estimates

Wall Street analysts estimate that GNRT’s revenue will be $80.3 million in the second quarter compared to $121.0 million in 1Q17 and $101.7 million in 2Q16. While revenue is expected to be lower, EBITDA (earnings before interest, tax, depreciation, and amortization) is also estimated to be lower. Analysts expect 2Q17 EBITDA to be $42.5 million compared to $85.9 million in 1Q17 and $71.0 million in 2Q16.

For fiscal 2017, analysts expect General Maritime Partners’ revenue to be $347.0 million, which is 11.4% lower than its 2016 revenue of $392.1 million. The 2017 EBITDA estimate for GNRT stands at $198.0 million, which is lower than 2016 EBITDA of $256.4 million.

Analyst recommendations

Eight analysts have given recommendations for General Maritime Partners. According to Reuters, the consensus rating for GNRT is 2.0, which means a “buy.”

Below are the consensus ratings for GNRT’s peers:

  • Teekay Tankers (TNK): 2.9, or a “hold”
  • Euronav (EURN): 2.2, or a “buy”
  • Nordic American Tankers (NAT): 3.9, or a “sell”
  • Frontline (FRO): 2.8, or a “hold”

Of the eight analysts covering General Maritime Partners, two of them have given the company a “strong buy.” Four have given it a “buy,” and two have suggested a “hold.”

The consensus target price is $7.06, which implies an upside of 25.8% from the market price of $5.61 on July 7, 2017.

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