International Seaways Inc (INSW) Expected to Post Earnings of -$0.78 Per Share

Wall Street analysts predict that International Seaways Inc (NYSE:INSW) will report ($0.78) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for International Seaways’ earnings, with estimates ranging from ($0.87) to ($0.74). International Seaways reported earnings per share of ($0.46) in the same quarter last year, which would indicate a negative year-over-year growth rate of 69.6%. The company is expected to report its next quarterly 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 financial year, analysts anticipate that the firm will post earnings of $1.13 per share, with EPS estimates ranging from ($0.42) to $3.32. Zacks’ EPS averages are a mean average based on a survey of research firms that cover International Seaways.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 8th. The transportation company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.09). International Seaways had a negative return on equity of 6.07% and a negative net margin of 67.42%. The business had revenue of $56.91 million during the quarter, compared to the consensus estimate of $46.74 million.

Several equities analysts recently issued reports on INSW shares. Zacks Investment Research upgraded International Seaways from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Stifel Nicolaus started coverage on International Seaways in a research note on Tuesday, September 25th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Jefferies Financial Group started coverage on International Seaways in a research note on Monday, October 1st. They set a “buy” rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. International Seaways has an average rating of “Buy” and an average target price of $28.00.

INSW traded up $0.46 on Friday, hitting $21.50. 8,307 shares of the stock traded hands, compared to its average volume of 111,593. International Seaways has a 52 week low of $15.23 and a 52 week high of $24.78. The company has a quick ratio of 1.94, a current ratio of 1.99 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $631.43 million, a price-to-earnings ratio of -73.83 and a beta of -0.92.

In other International Seaways news, major shareholder Paulson & Co. Inc. sold 101,673 shares of International Seaways stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $19.00, for a total transaction of $1,931,787.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bluemountain Capital Managemen sold 210,870 shares of International Seaways stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $21.59, for a total value of $4,552,683.30. 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. Company insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. United Services Automobile Association acquired a new position in shares of International Seaways in the 2nd quarter worth approximately $225,000. California Public Employees Retirement System acquired a new position in shares of International Seaways in the 1st quarter worth approximately $235,000. Leisure Capital Management acquired a new position in shares of International Seaways in the 2nd quarter worth approximately $240,000. Jane Street Group LLC acquired a new position in shares of International Seaways in the 2nd quarter worth approximately $427,000. Finally, LMR Partners LLP acquired a new position in shares of International Seaways in the 2nd quarter worth approximately $452,000. 85.39% of the stock is currently owned by institutional investors.

International Seaways Company Profile

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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