Zacks: Analysts Anticipate International Seaways Inc (NYSE:INSW) Will Announce Earnings of -$0.32 Per Share

Analysts predict that International Seaways Inc (NYSE:INSW) will announce earnings per share of ($0.32) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for International Seaways’ earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.51). International Seaways reported earnings per share of ($1.04) in the same quarter last year, which suggests a positive year over year growth rate of 69.2%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that International Seaways will report full year earnings of $0.05 per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of $3.15 per share, with EPS estimates ranging from $2.61 to $3.49. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for International Seaways.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, August 8th. The transportation company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03. International Seaways had a negative net margin of 13.98% and a negative return on equity of 2.49%. The business had revenue of $69.01 million during the quarter, compared to the consensus estimate of $71.97 million.

Separately, Zacks Investment Research raised shares of International Seaways from a “sell” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $24.50.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of International Seaways by 15.3% during the second quarter. BlackRock Inc. now owns 1,818,598 shares of the transportation company’s stock worth $34,553,000 after acquiring an additional 241,547 shares in the last quarter. Vanguard Group Inc. boosted its holdings in International Seaways by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,809,748 shares of the transportation company’s stock worth $34,385,000 after purchasing an additional 19,567 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in International Seaways by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,539,150 shares of the transportation company’s stock worth $25,919,000 after purchasing an additional 134,282 shares during the last quarter. Carlson Capital L P boosted its holdings in International Seaways by 44.6% during the second quarter. Carlson Capital L P now owns 474,067 shares of the transportation company’s stock worth $9,007,000 after purchasing an additional 146,300 shares during the last quarter. Finally, Hosking Partners LLP boosted its holdings in International Seaways by 48.4% during the first quarter. Hosking Partners LLP now owns 403,947 shares of the transportation company’s stock worth $6,924,000 after purchasing an additional 131,744 shares during the last quarter. 77.28% of the stock is owned by hedge funds and other institutional investors.

NYSE INSW traded up $0.09 during mid-day trading on Friday, reaching $16.03. 6,101 shares of the stock were exchanged, compared to its average volume of 168,551. International Seaways has a one year low of $15.15 and a one year high of $22.36. The stock has a 50 day simple moving average of $17.64 and a 200-day simple moving average of $18.00. The stock has a market cap of $465.77 million, a P/E ratio of -7.29 and a beta of 0.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.88.

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.

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Earnings History and Estimates for International Seaways (NYSE:INSW)

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