Equities analysts expect that International Seaways Inc (NYSE:INSW) will post earnings per share (EPS) of ($0.32) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for International Seaways’ earnings, with the lowest EPS estimate coming in at ($0.51) and the highest estimate coming in at ($0.18). International Seaways posted earnings per share of ($1.04) in the same quarter last year, which suggests a positive year over year growth rate of 69.2%. The company is scheduled to issue its next earnings results on Wednesday, November 6th.
On average, analysts expect that International Seaways will report full year earnings of $0.05 per share for the current year. For the next year, analysts expect that the firm will report earnings of $3.15 per share, with EPS estimates ranging from $2.61 to $3.49. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow International Seaways.
International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, August 8th. The transportation company reported ($0.51) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.03. International Seaways had a negative return on equity of 2.48% and a negative net margin of 13.98%. The company had revenue of $69.01 million during the quarter, compared to the consensus estimate of $71.97 million.
Separately, Zacks Investment Research raised International Seaways from a “sell” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $24.50.
Several institutional investors have recently added to or reduced their stakes in INSW. BlackRock Inc. increased its stake in shares of International Seaways by 15.3% in the second quarter. BlackRock Inc. now owns 1,818,598 shares of the transportation company’s stock valued at $34,553,000 after buying an additional 241,547 shares during the period. Carlson Capital L P increased its stake in shares of International Seaways by 44.6% in the second quarter. Carlson Capital L P now owns 474,067 shares of the transportation company’s stock valued at $9,007,000 after buying an additional 146,300 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of International Seaways by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,539,150 shares of the transportation company’s stock valued at $25,919,000 after buying an additional 134,282 shares during the period. Hosking Partners LLP increased its stake in shares of International Seaways by 48.4% in the first quarter. Hosking Partners LLP now owns 403,947 shares of the transportation company’s stock valued at $6,924,000 after buying an additional 131,744 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of International Seaways by 1,001.0% in the second quarter. Renaissance Technologies LLC now owns 115,600 shares of the transportation company’s stock valued at $2,196,000 after buying an additional 105,100 shares during the period. 77.28% of the stock is owned by institutional investors.
International Seaways stock opened at $16.21 on Friday. The firm has a 50 day moving average price of $17.73. International Seaways has a 1 year low of $15.15 and a 1 year high of $22.36. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.92 and a quick ratio of 1.88. The firm has a market capitalization of $464.05 million, a P/E ratio of -7.37 and a beta of 0.20.
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 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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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