Wall Street brokerages expect International Seaways Inc (NYSE:INSW) to post sales of $74.73 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for International Seaways’ earnings. The lowest sales estimate is $68.96 million and the highest is $80.97 million. International Seaways posted sales of $60.93 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.6%. The firm is expected to issue its next earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that International Seaways will report full year sales of $340.07 million for the current financial year, with estimates ranging from $323.61 million to $358.06 million. For the next year, analysts expect that the business will report sales of $424.04 million, with estimates ranging from $398.42 million to $451.66 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow International Seaways.
International Seaways (NYSE:INSW) last issued its earnings results 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. The firm had revenue of $69.01 million for the quarter, compared to analyst estimates of $71.97 million. International Seaways had a negative return on equity of 2.48% and a negative net margin of 13.98%.
Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in shares of International Seaways by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 111,578 shares of the transportation company’s stock valued at $2,120,000 after purchasing an additional 654 shares during the period. Legal & General Group Plc raised its stake in shares of International Seaways by 21.1% during 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 period. SG Americas Securities LLC raised its stake in shares of International Seaways by 21.1% during the 2nd quarter. SG Americas Securities LLC now owns 7,235 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 1,260 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of International Seaways by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 297,725 shares of the transportation company’s stock valued at $5,657,000 after purchasing an additional 1,989 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of International Seaways by 30,442.9% during the 2nd quarter. Bank of Montreal Can now owns 2,138 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 2,131 shares during the period. Institutional investors own 77.28% of the company’s stock.
Shares of INSW opened at $16.21 on Friday. The company has a market capitalization of $464.05 million, a price-to-earnings ratio of -7.37 and a beta of 0.20. The company has a fifty day moving average price of $17.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.88 and a current ratio of 1.92. International Seaways has a 1 year low of $15.15 and a 1 year high of $22.36.
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.
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