Brokerages forecast that International Seaways, Inc. (NYSE:INSW) will announce $97.89 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for International Seaways' earnings. The highest sales estimate is $100.55 million and the lowest is $93.70 million. International Seaways reported sales of $71.28 million during the same quarter last year, which indicates a positive year-over-year growth rate of 37.3%. The business is scheduled to issue its next earnings report before the market opens on Thursday, November 5th.
On average, analysts expect that International Seaways will report full-year sales of $468.13 million for the current fiscal year, with estimates ranging from $458.70 million to $478.70 million. For the next financial year, analysts expect that the company will report sales of $401.72 million, with estimates ranging from $337.51 million to $460.35 million. Zacks' sales calculations 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 results on Friday, August 7th. The transportation company reported $2.39 earnings per share for the quarter, beating the Zacks' consensus estimate of $2.26 by $0.13. The business had revenue of $139.73 million during the quarter, compared to analyst estimates of $145.55 million. International Seaways had a net margin of 22.19% and a return on equity of 13.51%.
A number of research firms recently weighed in on INSW. Zacks Investment Research raised shares of International Seaways from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. TheStreet raised shares of International Seaways from a "d+" rating to a "c" rating in a report on Monday, August 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and a consensus price target of $26.00.
INSW opened at $15.60 on Monday. The company has a fifty day simple moving average of $15.79 and a 200 day simple moving average of $18.97. The firm has a market cap of $436.55 million, a price-to-earnings ratio of 4.43 and a beta of 0.06. International Seaways has a twelve month low of $13.92 and a twelve month high of $31.39. The company has a current ratio of 1.86, a quick ratio of 1.84 and a debt-to-equity ratio of 0.49.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Tuesday, September 8th. International Seaways's dividend payout ratio (DPR) is presently 39.34%.
Several hedge funds and other institutional investors have recently bought and sold shares of INSW. JPMorgan Chase & Co. boosted its holdings in shares of International Seaways by 10.0% in the 1st quarter. JPMorgan Chase & Co. now owns 66,096 shares of the transportation company's stock valued at $1,579,000 after buying an additional 6,015 shares during the period. BNP Paribas Arbitrage SA lifted its position in International Seaways by 20.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,130 shares of the transportation company's stock valued at $194,000 after purchasing an additional 1,353 shares during the last quarter. Nuveen Asset Management LLC lifted its position in International Seaways by 34.9% in the 1st quarter. Nuveen Asset Management LLC now owns 160,447 shares of the transportation company's stock valued at $3,833,000 after purchasing an additional 41,505 shares during the last quarter. Geode Capital Management LLC lifted its position in International Seaways by 6.3% in the 1st quarter. Geode Capital Management LLC now owns 360,831 shares of the transportation company's stock valued at $8,620,000 after purchasing an additional 21,481 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in International Seaways by 52.1% in the 1st quarter. Wells Fargo & Company MN now owns 72,035 shares of the transportation company's stock valued at $1,722,000 after purchasing an additional 24,667 shares during the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.
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 through two segments, Crude Tankers and Product Carriers. As of March 3, 2020, the company owned and operated a fleet of 42 vessels, including 13 very large crude carriers, 2 Suezmaxes, 5 Aframaxes/LR2s, 13 Panamaxes/LR1s, and 7 medium range tankers, as well as had ownership interests in two floating storage and offloading service vessels.
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