Equities analysts predict that International Seaways Inc (NYSE:INSW) will announce sales of $73.85 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for International Seaways’ earnings, with estimates ranging from $62.75 million to $83.98 million. International Seaways reported sales of $69.43 million in the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The business is expected to report its next earnings results on Thursday, March 14th.
According to Zacks, analysts expect that International Seaways will report full year sales of $235.83 million for the current fiscal year, with estimates ranging from $215.14 million to $253.20 million. For the next fiscal year, analysts expect that the firm will report sales of $325.13 million, with estimates ranging from $281.90 million to $373.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow International Seaways.
International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, November 7th. The transportation company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.30). The business had revenue of $60.93 million for the quarter, compared to analyst estimates of $54.59 million. International Seaways had a negative return on equity of 7.81% and a negative net margin of 78.00%.
Several equities analysts have weighed in on INSW shares. Stifel Nicolaus started coverage on International Seaways in a research report on Tuesday, September 25th. They issued a “buy” rating and a $25.00 target price for the company. Jefferies Financial Group started coverage on International Seaways in a research report on Monday, October 1st. They issued a “buy” rating and a $30.00 target price for the company. Zacks Investment Research downgraded International Seaways from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, B. Riley started coverage on International Seaways in a research report on Friday. They issued a “neutral” rating and a $21.50 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $26.38.
NYSE INSW opened at $17.79 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.94 and a current ratio of 1.99. International Seaways has a 1-year low of $15.23 and a 1-year high of $24.78.
In other news, Director Randee E. Day sold 4,000 shares of International Seaways stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $20.95, for a total value of $83,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bluemountain Capital Managemen sold 163,155 shares of International Seaways stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $21.98, for a total value of $3,586,146.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,460,933 shares of company stock valued at $51,043,973. 0.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of International Seaways by 16.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 45,530 shares of the transportation company’s stock valued at $1,054,000 after buying an additional 6,390 shares during the period. Bank of America Corp DE lifted its stake in International Seaways by 7.2% during the second quarter. Bank of America Corp DE now owns 122,703 shares of the transportation company’s stock worth $2,840,000 after purchasing an additional 8,284 shares during the last quarter. Swiss National Bank lifted its stake in International Seaways by 35.4% during the second quarter. Swiss National Bank now owns 32,900 shares of the transportation company’s stock worth $761,000 after purchasing an additional 8,600 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in International Seaways by 123.6% during the third quarter. Russell Investments Group Ltd. now owns 15,918 shares of the transportation company’s stock worth $319,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in International Seaways during the third quarter worth approximately $188,000. Institutional investors and hedge funds own 85.42% of the company’s stock.
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 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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