Equities research analysts expect that International Seaways Inc. (NYSE:INSW) will announce sales of $64.72 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for International Seaways’ earnings, with estimates ranging from $63.90 million to $66.00 million. International Seaways reported sales of $80.77 million during the same quarter last year, which indicates a negative year-over-year growth rate of 19.9%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, November 9th.

On average, analysts expect that International Seaways will report full year sales of $64.72 million for the current fiscal year, with estimates ranging from $293.80 million to $310.00 million. For the next fiscal year, analysts expect that the business will post sales of $329.70 million per share, with estimates ranging from $320.39 million to $344.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for International Seaways.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, August 9th. The transportation company reported ($0.40) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.55). International Seaways had a positive return on equity of 0.91% and a negative net margin of 31.22%. The company had revenue of $71.90 million during the quarter, compared to analyst estimates of $73.00 million. The business’s quarterly revenue was down 30.3% on a year-over-year basis.

Separately, Zacks Investment Research cut International Seaways from a “hold” rating to a “strong sell” rating in a research report on Friday, October 20th.

Several institutional investors and hedge funds have recently bought and sold shares of INSW. Legal & General Group Plc boosted its position in shares of International Seaways by 61.7% in the second quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock valued at $138,000 after acquiring an additional 2,424 shares during the period. Leisure Capital Management bought a new stake in shares of International Seaways in the second quarter valued at approximately $208,000. Citadel Advisors LLC bought a new stake in shares of International Seaways in the second quarter valued at approximately $244,000. Voya Investment Management LLC bought a new stake in shares of International Seaways in the second quarter valued at approximately $292,000. Finally, AJO LP bought a new stake in shares of International Seaways in the second quarter valued at approximately $414,000. 85.50% of the stock is owned by institutional investors.

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International Seaways Company Profile

International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.

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