Q1 2024 Earnings Estimate for International Seaways, Inc. (NYSE:INSW) Issued By B. Riley

International Seaways, Inc. (NYSE:INSW) – Research analysts at B. Riley dropped their Q1 2024 earnings per share (EPS) estimates for shares of International Seaways in a report issued on Thursday, April 11th. B. Riley analyst L. Burke now expects that the transportation company will earn $1.88 per share for the quarter, down from their previous forecast of $1.92. The consensus estimate for International Seaways’ current full-year earnings is $9.33 per share. B. Riley also issued estimates for International Seaways’ Q2 2024 earnings at $1.68 EPS, Q3 2024 earnings at $1.58 EPS, Q4 2024 earnings at $2.47 EPS and FY2025 earnings at $8.46 EPS.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th. StockNews.com upgraded International Seaways from a “hold” rating to a “buy” rating in a research note on Saturday, April 6th.

International Seaways Trading Down 1.7 %

Shares of INSW stock opened at $52.16 on Monday. International Seaways has a 52-week low of $34.77 and a 52-week high of $55.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. The firm has a market capitalization of $2.55 billion, a PE ratio of 4.64 and a beta of -0.05. The stock has a fifty day simple moving average of $52.53 and a two-hundred day simple moving average of $49.14.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.08 by $0.10. The firm had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INSW. Vanguard Group Inc. lifted its stake in International Seaways by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock worth $168,279,000 after purchasing an additional 119,000 shares during the last quarter. BlackRock Inc. lifted its stake in International Seaways by 1.3% in the third quarter. BlackRock Inc. now owns 3,365,733 shares of the transportation company’s stock worth $118,238,000 after purchasing an additional 43,736 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in International Seaways by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock worth $145,464,000 after purchasing an additional 122,642 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in International Seaways by 24.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock worth $73,396,000 after purchasing an additional 318,962 shares during the last quarter. Finally, State Street Corp lifted its stake in International Seaways by 5.0% in the first quarter. State Street Corp now owns 1,186,385 shares of the transportation company’s stock worth $49,449,000 after purchasing an additional 56,497 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 13,760 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the completion of the transaction, the chief executive officer now owns 148,942 shares in the company, valued at $7,874,563.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.02, for a total value of $844,804.80. Following the completion of the transaction, the chief executive officer now owns 136,260 shares of the company’s stock, valued at approximately $7,088,245.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 13,760 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total transaction of $727,491.20. Following the completion of the transaction, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock worth $3,073,978 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 9.20%. International Seaways’s payout ratio is 4.27%.

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 trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.