Wall Street analysts expect International Seaways Inc (NYSE:INSW) to post earnings of ($0.78) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for International Seaways’ earnings. The lowest EPS estimate is ($0.87) and the highest is ($0.74). International Seaways posted earnings of ($0.46) per share during the same quarter last year, which suggests a negative year over year growth rate of 69.6%. The firm is scheduled to announce its next earnings results on Thursday, November 8th.
According to Zacks, analysts expect that International Seaways will report full-year earnings of ($2.33) per share for the current fiscal year, with EPS estimates ranging from ($2.49) to ($2.13). For the next fiscal year, analysts expect that the company will post earnings of $1.13 per share, with EPS estimates ranging from ($0.42) to $3.32. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow International Seaways.
International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, August 8th. The transportation company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.09). The business had revenue of $56.91 million during the quarter, compared to analysts’ expectations of $46.74 million. International Seaways had a negative return on equity of 6.07% and a negative net margin of 67.42%.
Several research firms have recently weighed in on INSW. Zacks Investment Research raised shares of International Seaways from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Jefferies Financial Group began coverage on shares of International Seaways in a research note on Monday, October 1st. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Stifel Nicolaus began coverage on shares of International Seaways in a research note on Tuesday, September 25th. They issued a “buy” rating and a $25.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. International Seaways has an average rating of “Buy” and an average target price of $28.00.
Shares of NYSE:INSW traded up $0.47 during midday trading on Friday, hitting $21.51. The company’s stock had a trading volume of 153,643 shares, compared to its average volume of 110,339. The company has a current ratio of 1.99, a quick ratio of 1.94 and a debt-to-equity ratio of 0.75. The company has a market cap of $627.64 million, a P/E ratio of -74.17 and a beta of -0.92. International Seaways has a 12-month low of $15.23 and a 12-month high of $24.78.
In other International Seaways news, major shareholder Paulson & Co. Inc. sold 125,000 shares of International Seaways stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $18.15, for a total transaction of $2,268,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bluemountain Capital Managemen sold 163,155 shares of International Seaways stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $21.98, for a total transaction of $3,586,146.90. The disclosure for this sale can be found here. Insiders have sold 2,007,103 shares of company stock worth $41,475,756 over the last ninety days. 0.90% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Frontier Capital Management Co. LLC raised its stake in shares of International Seaways by 49.8% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,288,592 shares of the transportation company’s stock valued at $29,818,000 after acquiring an additional 428,321 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of International Seaways by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,259,965 shares of the transportation company’s stock valued at $29,156,000 after acquiring an additional 229,499 shares during the period. Northern Trust Corp raised its stake in shares of International Seaways by 2.6% in the 1st quarter. Northern Trust Corp now owns 336,593 shares of the transportation company’s stock valued at $5,924,000 after acquiring an additional 8,488 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of International Seaways by 21.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 175,977 shares of the transportation company’s stock valued at $4,073,000 after acquiring an additional 30,579 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of International Seaways by 7.2% in the 2nd quarter. Bank of America Corp DE now owns 122,703 shares of the transportation company’s stock valued at $2,840,000 after acquiring an additional 8,284 shares during the period. 85.39% of the stock is currently owned by institutional investors.
About International Seaways
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of June 14, 2018, the company owned and operated a fleet of 55 vessels, including 1 ultra large crude carrier, 14 very large crude carriers, 2 Suezmaxes, 7 Aframaxes, 12 Panamaxes, and 13 medium range tankers.
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