International Seaways Inc (INSW) Expected to Post Earnings of -$0.05 Per Share

Wall Street brokerages expect that International Seaways Inc (NYSE:INSW) will post earnings per share (EPS) of ($0.05) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for International Seaways’ earnings. The lowest EPS estimate is ($0.24) and the highest is $0.10. International Seaways reported earnings per share of ($0.33) during the same quarter last year, which would suggest a positive year-over-year growth rate of 84.8%. The company is expected to report its next quarterly earnings report on Thursday, March 14th.

On average, analysts expect that International Seaways will report full-year earnings of ($2.58) per share for the current financial year, with EPS estimates ranging from ($2.77) to ($2.43). For the next year, analysts expect that the firm will post earnings of $0.89 per share, with EPS estimates ranging from ($0.61) to $3.32. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover International Seaways.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, November 7th. The transportation company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.30). International Seaways had a negative net margin of 78.00% and a negative return on equity of 7.92%. The company had revenue of $60.93 million during the quarter, compared to analyst estimates of $54.59 million.

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group began coverage on shares of International Seaways in a report on Monday, October 1st. They issued a “buy” rating and a $30.00 price target for the company. ValuEngine raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus began coverage on shares of International Seaways in a research report on Tuesday, September 25th. They issued a “buy” rating and a $25.00 target price on the stock. Zacks Investment Research cut shares of International Seaways from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, B. Riley started coverage on shares of International Seaways in a report on Friday, November 9th. They issued a “neutral” rating and a $21.50 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $26.38.

In related news, major shareholder Paulson & Co. Inc. sold 175,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $19.00, for a total value of $3,325,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Randee E. Day sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $18.46, for a total transaction of $36,920.00. The disclosure for this sale can be found here. Insiders sold 2,169,453 shares of company stock worth $44,587,267 in the last 90 days. 0.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Frontier Capital Management Co. LLC raised its stake in shares of International Seaways by 49.8% during the second quarter. Frontier Capital Management Co. LLC now owns 1,288,592 shares of the transportation company’s stock valued at $29,818,000 after purchasing an additional 428,321 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of International Seaways by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,259,965 shares of the transportation company’s stock valued at $29,156,000 after purchasing an additional 229,499 shares during the period. Bienville Capital Management LLC acquired a new stake in shares of International Seaways during the second quarter worth approximately $1,391,000. Millennium Management LLC acquired a new stake in shares of International Seaways during the second quarter worth approximately $1,160,000. Finally, Paloma Partners Management Co acquired a new stake in shares of International Seaways during the second quarter worth approximately $956,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Shares of International Seaways stock opened at $19.28 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.76. The firm has a market cap of $562.66 million, a price-to-earnings ratio of -66.48 and a beta of -0.85. International Seaways has a one year low of $15.23 and a one year high of $24.78.

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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