Analysts Offer Insights on Materials Companies: Diamond Offshore Drilling (NYSE: DO) and Gener8 Maritime (NYSE: GNRT)

By Jason Carr

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Diamond Offshore Drilling (NYSE: DO) and Gener8 Maritime (NYSE: GNRT).

Diamond Offshore Drilling (NYSE: DO)

In a report released yesterday, Brad Handler from Jefferies reiterated a Hold rating on Diamond Offshore Drilling (NYSE: DO). The company’s shares closed yesterday at $16.62.

According to TipRanks.com, Handler is ranked 0 out of 5 stars with an average return of -4.0% and a 45.4% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Oceaneering International, Basic Energy Services, and Continental Resources.

Diamond Offshore Drilling has an analyst consensus of Hold, with a price target consensus of $15.

Gener8 Maritime (NYSE: GNRT)

In a report issued on November 14, Douglas Mavrinac from Jefferies reiterated a Buy rating on Gener8 Maritime (NYSE: GNRT), with a price target of $10. The company’s shares closed yesterday at $4.30, close to its 52-week low of $3.52.

Mavrinac commented:

“This morning, Gener8 reported an adjusted 3Q16 EPS loss of $0.01 which was just below Street consensus and our estimate of $0.00 primarily due to higher than expected G&A expenses incurred during the quarter.”

According to TipRanks.com, Mavrinac is a 5-star analyst with an average return of 10.5% and a 59.2% success rate. Mavrinac covers the Services sector, focusing on stocks such as Navios Maritime Partners Lp, Ship Finance International, and Golden Ocean Group Limited.

Gener8 Maritime has an analyst consensus of Moderate Buy, with a price target consensus of $10.