Wall Street analysts forecast that International Seaways Inc (NYSE:INSW) will post sales of $72.87 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for International Seaways’ earnings, with the lowest sales estimate coming in at $55.22 million and the highest estimate coming in at $86.44 million. International Seaways posted sales of $56.91 million during the same quarter last year, which suggests a positive year over year growth rate of 28%. The firm is scheduled to report its next earnings report on Wednesday, August 14th.
On average, analysts expect that International Seaways will report full-year sales of $334.26 million for the current year, with estimates ranging from $257.74 million to $377.25 million. For the next financial year, analysts anticipate that the firm will post sales of $386.16 million, with estimates ranging from $322.96 million to $430.39 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for International Seaways.
International Seaways (NYSE:INSW) last posted its quarterly earnings data on Tuesday, March 12th. The transportation company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.23. The firm had revenue of $100.55 million during the quarter, compared to analyst estimates of $84.44 million. International Seaways had a negative net margin of 15.22% and a negative return on equity of 3.00%.
INSW has been the subject of several analyst reports. Zacks Investment Research upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, March 20th. TheStreet upgraded shares of International Seaways from a “d” rating to a “c-” rating in a research note on Wednesday, February 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. International Seaways currently has an average rating of “Buy” and a consensus target price of $24.75.
A number of large investors have recently bought and sold shares of INSW. Legal & General Group Plc increased its stake in International Seaways by 21.1% in the 4th quarter. Legal & General Group Plc now owns 3,929 shares of the transportation company’s stock valued at $67,000 after buying an additional 684 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of International Seaways by 89.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,058 shares of the transportation company’s stock valued at $87,000 after acquiring an additional 2,395 shares during the period. SG Americas Securities LLC bought a new position in shares of International Seaways during the 1st quarter valued at approximately $102,000. United Services Automobile Association grew its position in shares of International Seaways by 19.4% during the 4th quarter. United Services Automobile Association now owns 12,700 shares of the transportation company’s stock valued at $214,000 after acquiring an additional 2,066 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of International Seaways by 39.4% during the 4th quarter. California Public Employees Retirement System now owns 23,055 shares of the transportation company’s stock valued at $388,000 after acquiring an additional 6,520 shares during the period. Hedge funds and other institutional investors own 83.34% of the company’s stock.
NYSE:INSW opened at $20.04 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.23 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $567.78 million, a price-to-earnings ratio of -9.11 and a beta of 0.13. International Seaways has a 52 week low of $15.61 and a 52 week high of $24.78.
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: Bar Chart
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.