Wall Street analysts forecast that International Seaways Inc (NYSE:INSW) will post $53.02 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for International Seaways’ earnings, with estimates ranging from $49.70 million to $55.75 million. International Seaways reported sales of $59.97 million during the same quarter last year, which would suggest a negative year over year growth rate of 11.6%. The firm is expected to issue its next earnings report on Thursday, November 8th.
On average, analysts expect that International Seaways will report full year sales of $229.07 million for the current year, with estimates ranging from $222.50 million to $240.81 million. For the next fiscal year, analysts forecast that the business will report sales of $305.28 million, with estimates ranging from $281.90 million to $331.58 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover International Seaways.
International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, August 8th. The transportation company reported ($0.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.09). The business had revenue of $56.91 million for the quarter, compared to the consensus estimate of $46.74 million. International Seaways had a negative return on equity of 6.07% and a negative net margin of 67.42%.
Several brokerages have commented on INSW. ValuEngine raised shares of International Seaways from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded shares of International Seaways from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Stifel Nicolaus began coverage on shares of International Seaways in a research note on Tuesday. They issued a “buy” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. International Seaways currently has a consensus rating of “Hold” and a consensus price target of $27.00.
INSW opened at $20.02 on Friday. The company has a quick ratio of 1.94, a current ratio of 1.99 and a debt-to-equity ratio of 0.75. The company has a market cap of $569.86 million, a P/E ratio of -68.41 and a beta of -0.98. International Seaways has a fifty-two week low of $15.23 and a fifty-two week high of $24.78.
In other International Seaways news, major shareholder Paulson & Co. Inc. sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $18.15, for a total value of $2,268,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bluemountain Capital Managemen sold 207,015 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $20.87, for a total transaction of $4,320,403.05. The disclosure for this sale can be found here. Insiders sold 1,040,388 shares of company stock valued at $20,856,767 in the last ninety days. Insiders own 0.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in INSW. United Services Automobile Association acquired a new position in shares of International Seaways in the second quarter valued at approximately $225,000. California Public Employees Retirement System acquired a new position in shares of International Seaways in the first quarter valued at approximately $235,000. Leisure Capital Management acquired a new position in shares of International Seaways in the second quarter valued at approximately $240,000. OMERS ADMINISTRATION Corp acquired a new position in shares of International Seaways in the first quarter valued at approximately $246,000. Finally, Jane Street Group LLC acquired a new position in shares of International Seaways in the second quarter valued at approximately $427,000. Institutional investors own 85.39% of the company’s stock.
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 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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