Analysts Expect International Seaways Inc (INSW) Will Announce Earnings of $0.48 Per Share

Equities research analysts forecast that International Seaways Inc (NYSE:INSW) will announce $0.48 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for International Seaways’ earnings. The lowest EPS estimate is $0.33 and the highest is $0.60. International Seaways reported earnings of ($0.78) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 161.5%. The company is expected to report its next quarterly earnings report on Friday, May 3rd.

According to Zacks, analysts expect that International Seaways will report full year earnings of $0.41 per share for the current financial year, with EPS estimates ranging from ($0.56) to $0.85. For the next year, analysts expect that the firm will report earnings of $2.31 per share, with EPS estimates ranging from $1.21 to $3.72. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for International Seaways.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Tuesday, March 12th. The transportation company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.23. International Seaways had a negative net margin of 32.90% and a negative return on equity of 6.23%. The business had revenue of $100.55 million during the quarter, compared to analyst estimates of $84.44 million.

INSW has been the topic of several recent research reports. TheStreet upgraded shares of International Seaways from a “d” rating to a “c-” rating in a research report on Wednesday, February 6th. Zacks Investment Research upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $24.25.

Large investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its position in International Seaways by 21.1% in the 4th quarter. Legal & General Group Plc now owns 3,929 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 684 shares during the last quarter. United Services Automobile Association raised its position in shares of International Seaways by 19.4% during the 4th quarter. United Services Automobile Association now owns 12,700 shares of the transportation company’s stock worth $214,000 after buying an additional 2,066 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of International Seaways by 123.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 15,918 shares of the transportation company’s stock worth $319,000 after buying an additional 8,800 shares in the last quarter. California Public Employees Retirement System raised its position in shares of International Seaways by 39.4% during the 4th quarter. California Public Employees Retirement System now owns 23,055 shares of the transportation company’s stock worth $388,000 after buying an additional 6,520 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of International Seaways by 41.5% during the 4th quarter. Rhumbline Advisers now owns 31,479 shares of the transportation company’s stock worth $530,000 after buying an additional 9,228 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Shares of NYSE INSW traded up $0.34 during midday trading on Wednesday, hitting $19.84. The company’s stock had a trading volume of 106,441 shares, compared to its average volume of 147,956. International Seaways has a 1-year low of $15.61 and a 1-year high of $24.78. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.19 and a current ratio of 2.23. The firm has a market capitalization of $569.40 million, a PE ratio of -9.02 and a beta of 0.11.

About International Seaways

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 December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.

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Earnings History and Estimates for International Seaways (NYSE:INSW)

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