Wall Street brokerages expect that International Seaways (NYSE:INSW) will post $47.94 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for International Seaways’ earnings. The highest sales estimate is $48.47 million and the lowest is $47.40 million. International Seaways posted sales of $71.96 million during the same quarter last year, which would suggest a negative year over year growth rate of 33.4%. The firm is expected to issue its next earnings results on Wednesday, August 8th.
According to Zacks, analysts expect that International Seaways will report full year sales of $224.17 million for the current year, with estimates ranging from $211.90 million to $236.43 million. For the next fiscal year, analysts forecast that the business will post sales of $312.30 million per share, with estimates ranging from $303.60 million to $321.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow International Seaways.
International Seaways (NYSE:INSW) last posted its quarterly earnings results on Friday, May 4th. The transportation company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.15). International Seaways had a negative net margin of 60.58% and a negative return on equity of 3.73%. The business had revenue of $51.98 million during the quarter, compared to analysts’ expectations of $52.35 million.
In other International Seaways news, major shareholder Paulson & Co. Inc. purchased 357,479 shares of the stock in a transaction on Thursday, March 15th. The shares were bought at an average cost of $18.34 per share, with a total value of $6,556,164.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of INSW. Wells Fargo & Company MN boosted its stake in shares of International Seaways by 44.2% during the 3rd quarter. Wells Fargo & Company MN now owns 32,463 shares of the transportation company’s stock worth $639,000 after acquiring an additional 9,945 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of International Seaways by 116.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 117,282 shares of the transportation company’s stock worth $2,311,000 after purchasing an additional 63,184 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of International Seaways by 59.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 561,379 shares of the transportation company’s stock worth $11,059,000 after purchasing an additional 208,301 shares during the last quarter. Hosking Partners LLP acquired a new position in shares of International Seaways during the 4th quarter worth about $4,419,000. Finally, BlackRock Inc. raised its position in shares of International Seaways by 2.4% during the 4th quarter. BlackRock Inc. now owns 1,698,572 shares of the transportation company’s stock worth $31,356,000 after purchasing an additional 39,363 shares during the last quarter. 85.33% of the stock is currently owned by institutional investors and hedge funds.
NYSE:INSW traded down $0.39 during mid-day trading on Monday, hitting $18.76. The company’s stock had a trading volume of 83,900 shares, compared to its average volume of 161,638. International Seaways has a 1 year low of $18.99 and a 1 year high of $19.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.57 and a current ratio of 2.66. The firm has a market cap of $554.45 million, a price-to-earnings ratio of -65.34 and a beta of -0.58.
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 March 8, 2018, the company owned or operated a fleet of 53 vessels, including 1 ultra large crude carrier, 9 very large crude carriers, 2 Suezmaxes, 8 Aframaxes, 12 Panamaxes, and 15 medium range tankers.
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