International Seaways (INSW) Set to Announce Quarterly Earnings on Wednesday

International Seaways (NYSE:INSW) is scheduled to post its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect International Seaways to post earnings of $2.45 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The firm had revenue of $250.73 million for the quarter, compared to analysts’ expectations of $239.36 million. On average, analysts expect International Seaways to post $9 EPS for the current fiscal year and $8 EPS for the next fiscal year.

International Seaways Trading Up 0.8 %

NYSE:INSW opened at $56.17 on Monday. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 4.99 and a beta of -0.05. The company’s 50 day moving average price is $53.16 and its 200-day moving average price is $50.17. International Seaways has a 52 week low of $34.77 and a 52 week high of $56.77. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 8.55%. International Seaways’s payout ratio is 4.27%.

Insider Buying and Selling at International Seaways

In other news, Director Douglas D. Wheat sold 3,846 shares of International Seaways stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the sale, the director now directly owns 26,056 shares of the company’s stock, valued at $1,334,588.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Douglas D. Wheat sold 3,846 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the sale, the director now owns 26,056 shares of the company’s stock, valued at approximately $1,334,588.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $54.87, for a total value of $54,870.00. Following the transaction, the chief financial officer now owns 76,849 shares in the company, valued at approximately $4,216,704.63. The disclosure for this sale can be found here. Insiders sold 58,846 shares of company stock valued at $3,074,618 over the last quarter. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

INSW has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, Stifel Nicolaus boosted their price objective on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 19th.

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 trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.