Wall Street brokerages forecast that International Seaways Inc (NYSE:INSW) will post earnings of $0.88 per share for the current quarter, Zacks reports. Three analysts have made estimates for International Seaways’ earnings. The lowest EPS estimate is $0.80 and the highest is $1.01. International Seaways reported earnings of ($0.41) per share in the same quarter last year, which indicates a positive year over year growth rate of 314.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 5th.
According to Zacks, analysts expect that International Seaways will report full-year earnings of $5.75 per share for the current financial year, with EPS estimates ranging from $5.69 to $5.80. For the next year, analysts forecast that the firm will report earnings of $3.96 per share, with EPS estimates ranging from $2.24 to $5.74. Zacks Investment Research’s EPS calculations 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 Friday, August 7th. The transportation company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 several recent research reports. 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 report 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. 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 report on Thursday, June 4th. Finally, TheStreet upgraded shares of International Seaways from a “d+” rating to a “c” rating in a research report on Monday, August 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.67.
A number of hedge funds have recently made changes to their positions in INSW. Bridgeway Capital Management Inc. acquired a new position in International Seaways during the second quarter valued at approximately $2,288,000. Nuveen Asset Management LLC grew its stake in International Seaways by 13.5% during the second quarter. Nuveen Asset Management LLC now owns 182,141 shares of the transportation company’s stock worth $2,976,000 after buying an additional 21,694 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in International Seaways by 2,941.9% during the second quarter. Jacobs Levy Equity Management Inc. now owns 311,335 shares of the transportation company’s stock worth $5,087,000 after buying an additional 301,100 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of International Seaways by 15.6% in the 2nd quarter. Bank of America Corp DE now owns 81,546 shares of the transportation company’s stock valued at $1,333,000 after purchasing an additional 11,019 shares in the last quarter. Finally, Advisor Group Holdings Inc. boosted its stake in shares of International Seaways by 321.5% in the 2nd quarter. Advisor Group Holdings Inc. now owns 7,604 shares of the transportation company’s stock valued at $124,000 after purchasing an additional 5,800 shares in the last quarter. 76.82% of the stock is owned by hedge funds and other institutional investors.
NYSE INSW traded up $0.12 during midday trading on Tuesday, hitting $15.78. The company had a trading volume of 190,457 shares, compared to its average volume of 218,060. The company has a quick ratio of 1.84, a current ratio of 1.86 and a debt-to-equity ratio of 0.50. The stock has a market cap of $441.59 million, a price-to-earnings ratio of 4.48 and a beta of -0.02. The firm has a fifty day simple moving average of $17.36 and a two-hundred day simple moving average of $19.90. International Seaways has a fifty-two week low of $14.89 and a fifty-two week high of $31.39.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, September 8th. International Seaways’s dividend payout ratio is currently 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.
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