Analysts predict that International Seaways, Inc. (NYSE:INSW – Get Rating) will report sales of $164.23 million for the current quarter, according to Zacks. Four analysts have made earnings estimates for International Seaways. The lowest sales estimate is $149.36 million and the highest is $195.39 million. International Seaways recorded sales of $46.30 million in the same quarter last year, which would indicate a positive growth rate of 254.7% year-over-year. The company is expected to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect International Seaways to report annual sales of $578.47 million for the current fiscal year, with estimates ranging from $510.87 million to $651.32 million. . For the next fiscal year, analysts expect the company to 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 companies that cover International Seaways.
International Seaways (NYSE:INSW – Get Rating) last released its results on Wednesday, May 4. The transportation company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimate 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 company posted ($0.48) EPS.
The INSW has been the subject of several analyst reports. StockNews.com upgraded shares of International Seaways to a “sell” rating in a report on Friday, April 29. Jefferies Financial Group launched a hedge on shares of International Seaways in a report on Wednesday, April 27. They set a “buy” rating and a target price of $27.00 on the stock. Zacks Investment Research downgraded shares of International Seaways from a “strong buy” rating to a “hold” rating in a Tuesday, May 10, report. Finally, B. Riley reissued a “buy” rating on International Seaways shares in a Tuesday, February 8 report.
International Seaways stock opened at $23.47 on Friday. The company’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 ratio of 0.81. The company 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 minimum of $13.05 and a 1 year maximum of $24.11.
The company also recently declared a quarterly dividend, which was paid on Monday, March 28. Shareholders of record on Monday, March 14 received a dividend of $0.06. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, March 11. International Seaways’ payout ratio is -7.87%.
Separately, major shareholder Finance Ltd Famatown purchased 131,308 shares of the company in a transaction dated Monday, May 2. 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, valued at $169,380,593.44. The purchase was disclosed in a document filed with the SEC, which is available via this hyperlink. Insiders have sold a total of 3,000 shares of the company worth $57,690 over the past three months. Insiders hold 2.40% of the shares of the company.
Several institutional investors have recently changed their positions in INSW. Donald Smith & CO. Inc. increased its stake in shares of International Seaways to 82.8% in the third quarter. Donald Smith & CO. Inc. now owns 3,525,759 shares of the transportation company valued at $64,239,000 after purchasing an additional 1,596,963 shares in the last quarter. BlackRock Inc. increased its position in International Seaways by 69.4% during the third quarter. BlackRock Inc. now owns 3,164,443 shares of the transportation company valued at $57,657,000 after purchasing an additional 1,296,577 shares during the period. Brightlight Capital Management LP acquired a new stake in International Seaways during Q1 valued at $20,511,000. Greenlight Capital Inc. purchased a new stake in International Seaways during Q1 for $18,455,000. Finally, Private Management Group Inc. strengthened 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 valued at $9,467,000 after purchasing an additional 598,018 shares during the period. 78.00% of the shares are held by institutional investors.
About International Shipping Lanes (Get an assessment)
International Seaways, Inc. owns and operates a fleet of ocean-going vessels for the transportation of crude oil and petroleum products in international trade. It operates in two segments, crude tankers and product tankers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, including 12 charter vessels, as well as interests in two floating storage and offloading vessels.
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