Revenue and earnings estimates
Wall Street analysts estimate that General Maritime Partners’ (GNRT) revenue will be ~$95 million in the fourth quarter, compared with $69 million in 3Q16 and ~$100 million in 4Q15. While revenue is expected to be lower year-over-year, EBITDA (earnings before interest, tax, depreciation, and amortization) are estimated to higher. Analysts expect 4Q16 EBITDA to be $54 million, compared with $35 million in 3Q16 and $67 million in 4Q15.
For fiscal 2016, analysts expect General Maritime Partners’ revenue to be $390 million—16% higher than the 2015 revenue of $334 million. The 2016 EBITDA estimate for GNRT stands at $250 million, higher than 2015’s EBITDA of $216 million. Even higher revenue is expected for GNRT in 2017.
Nine analysts give recommendations on General Maritime Partners (GNRT). According to Reuters, the consensus rating for GNRT is 1.8, which means “buy.” Four of the analysts have given the company a “strong buy.” Three analysts have given “buy” recommendations, and two analysts have suggested a “hold” for GNRT. None of the analysts have given the company a “sell” or “strong sell” recommendation. Peers Frontline (FRO), DHT Holdings (DHT), and Navios Maritime Midstream Partners (NAP) have not received any “strong sell” ratings, while Nordic American Tankers (NAT) and Teekay Tankers (TNK) have.
The consensus target price is $7.27, which implies an upside of 66%. GNRT’s target price has not changed since last month. However, it was $8.06 at the start of the November. In November, Citigroup decreased the target price for GNRT to $8 from $9. Also, Jefferies decreased the target price to $10 from $12.