International Seaways, Inc. (NYSE:INSW – Get Rating) – Analysts at Jefferies Financial Group issued their Q2 2022 earnings per share (EPS) estimates for International Seaways in a research report issued to clients and investors on Wednesday, May 4th. Jefferies Financial Group analyst C. Robertson forecasts that the transportation company will post earnings per share of $0.68 for the quarter. Jefferies Financial Group has a “Buy” rating and a $27.00 price objective on the stock. Jefferies Financial Group also issued estimates for International Seaways’ Q3 2022 earnings at $0.33 EPS, Q4 2022 earnings at $0.50 EPS, FY2022 earnings at $1.24 EPS and FY2023 earnings at $1.25 EPS.
International Seaways (NYSE:INSW – Get Rating) last issued its quarterly earnings data 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 net margin of 40.68% and a negative return on equity of 7.65%. During the same period in the previous year, the business posted ($0.48) earnings per share.
Shares of NYSE:INSW opened at $22.77 on Monday. The firm has a 50 day moving average price of $19.16. The firm has a market cap of $1.13 billion, a PE ratio of -7.47 and a beta of -0.01. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 0.81. International Seaways has a 12 month low of $13.05 and a 12 month high of $22.98.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 28th. Stockholders of record on Monday, March 14th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, March 11th. International Seaways’s dividend payout ratio is currently -7.87%.
In other news, major shareholder Finance Ltd Famatown acquired 131,308 shares of International Seaways stock in a transaction dated Monday, May 2nd. The shares were bought at an average cost of $20.74 per share, with a total value of $2,723,327.92. Following the purchase, the insider now owns 8,166,856 shares in the company, valued at approximately $169,380,593.44. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 4,000 shares of company stock worth $73,690. Insiders own 2.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in INSW. Morgan Stanley lifted its position in shares of International Seaways by 3,871.7% during the 2nd quarter. Morgan Stanley now owns 148,659 shares of the transportation company’s stock valued at $2,852,000 after acquiring an additional 144,916 shares during the period. SG Americas Securities LLC acquired a new position in shares of International Seaways during the 3rd quarter valued at $535,000. Victory Capital Management Inc. raised its holdings in International Seaways by 14.1% during the third quarter. Victory Capital Management Inc. now owns 96,953 shares of the transportation company’s stock worth $1,766,000 after buying an additional 11,995 shares during the last quarter. New York State Common Retirement Fund raised its holdings in International Seaways by 39.7% during the third quarter. New York State Common Retirement Fund now owns 27,846 shares of the transportation company’s stock worth $507,000 after buying an additional 7,910 shares during the last quarter. Finally, Raymond James & Associates acquired a new position in International Seaways during the third quarter worth $324,000. Institutional investors own 78.00% of the company’s stock.
International Seaways Company Profile (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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