Q1 2024 Earnings Estimate for International Seaways, Inc. (NYSE:INSW) Issued By B. Riley

International Seaways, Inc. (NYSE:INSW) – Investment analysts at B. Riley decreased their Q1 2024 EPS estimates for International Seaways in a research note issued to investors on Thursday, April 11th. B. Riley analyst L. Burke now anticipates that the transportation company will earn $1.88 per share for the quarter, down from their prior estimate of $1.92. The consensus estimate for International Seaways’ current full-year earnings is $9.33 per share. B. Riley also issued estimates for International Seaways’ Q2 2024 earnings at $1.68 EPS, Q3 2024 earnings at $1.58 EPS, Q4 2024 earnings at $2.47 EPS and FY2025 earnings at $8.46 EPS.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. The business had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%.

A number of other analysts have also recently commented on INSW. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th. StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Saturday, April 6th.

International Seaways Stock Down 1.7 %

INSW stock opened at $52.16 on Monday. The stock has a market capitalization of $2.55 billion, a P/E ratio of 4.64 and a beta of -0.05. The firm has a 50-day simple moving average of $52.53 and a 200-day simple moving average of $49.14. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. International Seaways has a 52 week low of $34.77 and a 52 week high of $55.59.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $1.20 per share. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 9.20%. International Seaways’s dividend payout ratio is presently 4.27%.

Insider Activity at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares of the company’s stock, valued at approximately $4,361,927.49. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Lois K. Zabrocky sold 13,760 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now directly owns 82,161 shares of the company’s stock, valued at approximately $4,361,927.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,846 shares of company stock valued at $3,073,978. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

Hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. purchased a new stake in shares of International Seaways in the 3rd quarter valued at approximately $28,000. Point72 Asset Management L.P. lifted its holdings in shares of International Seaways by 55.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock worth $39,000 after acquiring an additional 361 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of International Seaways in the 4th quarter worth approximately $46,000. Tower Research Capital LLC TRC lifted its holdings in shares of International Seaways by 279.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company’s stock worth $50,000 after acquiring an additional 812 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of International Seaways by 29.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock worth $62,000 after acquiring an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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 trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.