Analysts predict that International Seaways Inc (NYSE:INSW) will announce $97.89 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for International Seaways’ earnings. The highest sales estimate is $100.55 million and the lowest is $93.70 million. International Seaways posted sales of $71.28 million in the same quarter last year, which would indicate a positive year over year growth rate of 37.3%. The firm is scheduled to announce its next earnings report on Thursday, November 5th.
According to Zacks, analysts expect that International Seaways will report full year sales of $468.13 million for the current fiscal year, with estimates ranging from $458.70 million to $478.70 million. For the next financial year, analysts expect that the firm will report sales of $401.72 million, with estimates ranging from $337.51 million to $460.35 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover International Seaways.
International Seaways (NYSE:INSW) last posted its earnings results on Friday, August 7th. The transportation company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.13. International Seaways had a net margin of 22.19% and a return on equity of 13.51%.
INSW has been the topic of a number of research analyst reports. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Thursday, June 4th. Fearnley Fonds lowered shares of International Seaways from a “buy” rating to a “sell” rating and set a $18.00 target price on the stock. in a research note on Tuesday, June 2nd. Zacks Investment Research upgraded shares of International Seaways from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, TheStreet upgraded shares of International Seaways from a “d+” rating to a “c” rating in a research report on Monday, August 24th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. International Seaways has an average rating of “Hold” and an average target price of $26.67.
A number of hedge funds and other institutional investors have recently bought and sold shares of INSW. Tower Research Capital LLC TRC boosted its position in shares of International Seaways by 626.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,686 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 1,454 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of International Seaways during the 1st quarter valued at about $43,000. Bank of Montreal Can boosted its position in shares of International Seaways by 961.0% during the 2nd quarter. Bank of Montreal Can now owns 1,984 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 1,797 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of International Seaways by 141.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,227 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 1,306 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of International Seaways by 144.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,599 shares of the transportation company’s stock valued at $42,000 after acquiring an additional 1,536 shares in the last quarter. Institutional investors own 76.82% of the company’s stock.
NYSE:INSW traded up $0.12 during midday trading on Thursday, reaching $15.78. The stock had a trading volume of 190,457 shares, compared to its average volume of 218,060. International Seaways has a 1-year low of $14.89 and a 1-year high of $31.39. The firm’s fifty day simple moving average is $17.36 and its 200-day simple moving average is $19.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.86 and a quick ratio of 1.84. The stock has a market capitalization of $441.59 million, a P/E ratio of 4.48 and a beta of -0.02.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.24 annualized dividend and a yield of 1.52%. International Seaways’s dividend payout ratio is 39.34%.
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 December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.
Featured Story: What is a conference call?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for International Seaways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways and related companies with MarketBeat.com's FREE daily email newsletter.