International Seaways (INSW) Scheduled to Post Quarterly Earnings on Thursday

International Seaways (NYSE:INSW) is scheduled to be releasing its earnings data before the market opens on Thursday, November 7th. Analysts expect International Seaways to post earnings of $1.42 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The firm had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.12 EPS. On average, analysts expect International Seaways to post $9 EPS for the current fiscal year and $8 EPS for the next fiscal year.

International Seaways Price Performance

INSW traded down $0.12 during midday trading on Tuesday, reaching $43.07. 44,442 shares of the company’s stock were exchanged, compared to its average volume of 573,131. International Seaways has a 1-year low of $42.08 and a 1-year high of $65.94. The stock has a market capitalization of $2.14 billion, a PE ratio of 4.11 and a beta of -0.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. The business’s 50-day moving average price is $49.59 and its 200 day moving average price is $54.58.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares in the company, valued at $7,779,265. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $49.40, for a total value of $98,800.00. Following the sale, the chief executive officer now directly owns 157,475 shares of the company’s stock, valued at $7,779,265. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the transaction, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at approximately $2,754,175.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock worth $738,920 over the last ninety days. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on INSW shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research note on Wednesday, August 7th. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and cut their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, International Seaways currently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

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 in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.