Zacks: Brokerages Expect International Seaways, Inc. (NYSE:INSW) Will Post Earnings of $1.07 Per Share

Analysts expect that International Seaways, Inc. (NYSE:INSWGet Rating) will report earnings of $1.07 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for International Seaways’ earnings. The lowest EPS estimate is $0.68 and the highest is $1.43. International Seaways posted earnings of ($0.51) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 309.8%. The company is expected to issue its next earnings report on Monday, January 1st.

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

International Seaways (NYSE:INSWGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The transportation company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned ($0.48) EPS.

A number of analysts recently commented on INSW shares. B. Riley restated a “buy” rating on shares of International Seaways in a research report on Tuesday, February 8th. Zacks Investment Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 10th. Jefferies Financial Group initiated coverage on International Seaways in a report on Wednesday, April 27th. They set a “buy” rating and a $27.00 target price for the company. Finally, upgraded International Seaways to a “sell” rating in a report on Friday, April 29th.

Shares of INSW traded up $0.14 during trading hours on Friday, reaching $23.71. The stock had a trading volume of 8,932 shares, compared to its average volume of 974,100. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.81. International Seaways has a 52 week low of $13.05 and a 52 week high of $24.11. The firm has a 50-day moving average of $19.94 and a 200 day moving average of $17.31. The company has a market cap of $1.18 billion, a P/E ratio of -7.77 and a beta of -0.01.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 28th. Stockholders of record on Monday, March 14th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, March 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.01%. International Seaways’s dividend payout ratio is -7.87%.

In other International Seaways news, major shareholder Finance Ltd Famatown acquired 100,000 shares of International Seaways stock in a transaction dated Wednesday, May 4th. The stock was bought at an average cost of $21.71 per share, for a total transaction of $2,171,000.00. Following the purchase, the insider now directly owns 8,266,856 shares in the company, valued at approximately $179,473,443.76. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 3,000 shares of company stock valued at $57,690. Company insiders own 2.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new position in International Seaways in the 4th quarter valued at about $29,000. Macquarie Group Ltd. raised its holdings in International Seaways by 44.4% in the 3rd quarter. Macquarie Group Ltd. now owns 2,753 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 846 shares during the period. Spire Wealth Management raised its holdings in International Seaways by 3,906.8% in the 4th quarter. Spire Wealth Management now owns 3,526 shares of the transportation company’s stock valued at $52,000 after acquiring an additional 3,438 shares during the period. Marshall Wace LLP bought a new position in International Seaways in the 4th quarter valued at about $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in International Seaways by 697.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,875 shares of the transportation company’s stock valued at $101,000 after acquiring an additional 6,013 shares during the period. Institutional investors and hedge funds own 78.00% of the company’s stock.

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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