Overseas Shipholding Group (OSG) Announces Earnings Results

Overseas Shipholding Group (NYSE:OSG) released its quarterly earnings results on Friday. The transportation company reported $0.13 earnings per share for the quarter, Morningstar.com reports. The company had revenue of $80.54 million during the quarter. Overseas Shipholding Group had a return on equity of 17.86% and a net margin of 14.13%.

NYSE OSG traded down $0.90 during trading hours on Friday, reaching $2.20. The company’s stock had a trading volume of 1,097,998 shares, compared to its average volume of 277,166. The stock has a market capitalization of $268.91 million, a price-to-earnings ratio of 5.21 and a beta of -0.17. Overseas Shipholding Group has a 1-year low of $1.67 and a 1-year high of $4.16. The company has a current ratio of 4.81, a quick ratio of 4.38 and a debt-to-equity ratio of 1.17.

In related news, major shareholder Paulson & Co. Inc. sold 736,431 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $3.32, for a total value of $2,444,950.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.53% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Overseas Shipholding Group by 35.8% in the 2nd quarter. Rhumbline Advisers now owns 57,179 shares of the transportation company’s stock worth $222,000 after purchasing an additional 15,081 shares during the period. First Trust Advisors LP purchased a new stake in Overseas Shipholding Group during the 3rd quarter worth approximately $307,000. Bailard Inc. purchased a new stake in Overseas Shipholding Group during the 2nd quarter worth approximately $515,000. Mackay Shields LLC increased its stake in Overseas Shipholding Group by 45.5% during the 2nd quarter. Mackay Shields LLC now owns 138,800 shares of the transportation company’s stock worth $539,000 after buying an additional 43,400 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Overseas Shipholding Group during the 2nd quarter worth approximately $594,000. 56.93% of the stock is owned by institutional investors.

WARNING: This article was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/11/10/overseas-shipholding-group-osg-announces-earnings-results.html.

Overseas Shipholding Group Company Profile

Overseas Shipholding Group, Inc owns and operates a fleet of oceangoing vessels engaged in the transportation of crude oil and petroleum products in the United States. At December 31, 2017, the company owned or operated a fleet of 23 vessels totaling an aggregate of approximately 1 million deadweight tons.

See Also: Cost of Capital

Earnings History for Overseas Shipholding Group (NYSE:OSG)

Receive News & Ratings for Overseas Shipholding Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Overseas Shipholding Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply