Brokerages Anticipate International Seaways, Inc. (NYSE:INSW) Will Announce Earnings of $1.07 Per Share

Wall Street analysts expect that International Seaways, Inc. (NYSE:INSWGet Rating) will announce earnings of $1.07 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for International Seaways’ earnings. The highest EPS estimate is $1.43 and the lowest is $0.68. International Seaways reported earnings of ($0.51) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 309.8%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that International Seaways will report full year earnings of $2.71 per share for the current fiscal year, with EPS estimates ranging from $1.24 to $3.58. For the next financial year, analysts expect that the firm will report earnings of $3.01 per share, with EPS estimates ranging from $1.25 to $4.53. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for International Seaways.

International Seaways (NYSE:INSWGet Rating) last issued its earnings results on Wednesday, May 4th. The transportation company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.16. International Seaways had a negative return on equity of 7.65% and a negative net margin of 40.68%. During the same period last year, the firm earned ($0.48) EPS.

A number of research analysts have recently commented on the company. StockNews.com raised International Seaways to a “sell” rating in a report on Friday, April 29th. Jefferies Financial Group assumed coverage on International Seaways in a report on Wednesday, April 27th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Zacks Investment Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 10th.

In other news, major shareholder Finance Ltd Famatown purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was bought at an average cost of $21.71 per share, with a total value of $2,171,000.00. Following the purchase, the insider now directly owns 8,266,856 shares of the company’s stock, valued at $179,473,443.76. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of INSW. BlackRock Inc. raised its stake in shares of International Seaways by 69.4% in the 3rd quarter. BlackRock Inc. now owns 3,164,443 shares of the transportation company’s stock valued at $57,657,000 after acquiring an additional 1,296,577 shares in the last quarter. Brightlight Capital Management LP bought a new position in shares of International Seaways in the 1st quarter valued at approximately $20,511,000. Greenlight Capital Inc. bought a new position in shares of International Seaways in the 1st quarter valued at approximately $18,455,000. Private Management Group Inc. raised its stake in shares of International Seaways by 1,275.1% in the 4th quarter. Private Management Group Inc. now owns 644,918 shares of the transportation company’s stock valued at $9,467,000 after acquiring an additional 598,018 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd Can bought a new position in shares of International Seaways in the 3rd quarter valued at approximately $10,445,000. 78.00% of the stock is owned by institutional investors.

NYSE INSW traded down $1.42 during trading hours on Thursday, hitting $23.28. The company had a trading volume of 450,885 shares, compared to its average volume of 712,827. International Seaways has a fifty-two week low of $13.05 and a fifty-two week high of $24.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $22.09 and a 200-day simple moving average of $18.01. The firm has a market cap of $1.16 billion, a P/E ratio of -7.63 and a beta of -0.02.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Friday, June 17th will be paid a $0.12 dividend. This is an increase from International Seaways’s previous quarterly dividend of $0.06. This represents a $0.48 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, June 16th. International Seaways’s dividend payout ratio is currently -7.87%.

About International Seaways (Get Rating)

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, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.

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