Analysts predict that International Seaways, Inc. (NYSE:INSW – Get Rating) will announce sales of $164.23 million for the current quarter, according to Zacks. Four analysts have made estimates for International Seaways’ earnings. The lowest sales estimate is $149.36 million and the highest is $195.39 million. International Seaways posted sales of $46.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 254.7%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that International Seaways will report full-year sales of $578.47 million for the current financial year, with estimates ranging from $510.87 million to $651.32 million. For the next financial year, analysts anticipate that the company will post sales of $593.56 million, with estimates ranging from $499.24 million to $670.27 million. Zacks’ sales averages are an average based on a survey of research firms that cover International Seaways.
International Seaways (NYSE:INSW – Get Rating) last posted its earnings results on Wednesday, May 4th. The transportation company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted ($0.48) EPS.
International Seaways stock opened at $23.47 on Friday. The firm’s 50 day simple moving average is $20.09 and its 200 day simple moving average is $17.34. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.17 billion, a PE ratio of -7.70 and a beta of -0.01. International Seaways has a 1-year low of $13.05 and a 1-year high of $24.11.
The business also recently declared a quarterly dividend, which was paid on Monday, March 28th. Stockholders of record on Monday, March 14th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, March 11th. International Seaways’s payout ratio is -7.87%.
In related news, major shareholder Finance Ltd Famatown purchased 131,308 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were purchased at an average price of $20.74 per share, with a total value of $2,723,327.92. Following the acquisition, the insider now directly owns 8,166,856 shares of the company’s stock, valued at $169,380,593.44. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 3,000 shares of company stock worth $57,690 in the last three months. Insiders own 2.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in INSW. Donald Smith & CO. Inc. boosted its stake in shares of International Seaways by 82.8% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,525,759 shares of the transportation company’s stock valued at $64,239,000 after purchasing an additional 1,596,963 shares in the last quarter. BlackRock Inc. boosted its position in International Seaways by 69.4% during the 3rd quarter. BlackRock Inc. now owns 3,164,443 shares of the transportation company’s stock valued at $57,657,000 after buying an additional 1,296,577 shares during the period. Brightlight Capital Management LP purchased a new stake in International Seaways during the 1st quarter valued at $20,511,000. Greenlight Capital Inc. purchased a new stake in International Seaways during the 1st quarter valued at $18,455,000. Finally, Private Management Group Inc. boosted its position in International Seaways by 1,275.1% during the 4th quarter. Private Management Group Inc. now owns 644,918 shares of the transportation company’s stock valued at $9,467,000 after buying an additional 598,018 shares during the period. 78.00% of the stock is owned by institutional investors.
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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