International Seaways (INSW) Set to Announce Quarterly Earnings on Wednesday

International Seaways (NYSE:INSW) will announce its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $2.45 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. The firm had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. On average, analysts expect International Seaways to post $9 EPS for the current fiscal year and $8 EPS for the next fiscal year.

International Seaways Price Performance

Shares of INSW opened at $56.33 on Tuesday. The company has a market capitalization of $2.76 billion, a P/E ratio of 5.01 and a beta of -0.05. The business’s 50-day moving average is $53.24 and its two-hundred day moving average is $50.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. International Seaways has a fifty-two week low of $34.77 and a fifty-two week high of $57.07.

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 paid 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 8.52%. International Seaways’s payout ratio is 4.27%.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.02, for a total value of $844,804.80. Following the transaction, the chief executive officer now directly owns 136,260 shares in the company, valued at $7,088,245.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other International Seaways news, CEO Lois K. Zabrocky sold 16,240 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.02, for a total value of $844,804.80. Following the completion of the sale, the chief executive officer now owns 136,260 shares in the company, valued at $7,088,245.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $53.09, for a total transaction of $318,540.00. Following the transaction, the director now owns 19,098 shares in the company, valued at $1,013,912.82. The disclosure for this sale can be found here. In the last three months, insiders sold 58,846 shares of company stock valued at $3,074,618. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

INSW has been the subject of several research analyst reports. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Stifel Nicolaus increased their price objective on shares of International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research report on Thursday, February 29th.

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.