International Seaways Inc (INSW) Expected to Announce Earnings of -$0.01 Per Share
Brokerages expect International Seaways Inc (NYSE:INSW) to announce ($0.01) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for International Seaways’ earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at ($0.33). International Seaways posted earnings of $0.27 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 103.7%. The business is scheduled to issue its next earnings results on Wednesday, April 4th.
According to Zacks, analysts expect that International Seaways will report full-year earnings of ($0.04) per share for the current fiscal year, with EPS estimates ranging from ($0.13) to $0.02. For the next fiscal year, analysts forecast that the company will report earnings of $1.45 per share, with EPS estimates ranging from $1.35 to $1.56. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow International Seaways.
Separately, Zacks Investment Research cut International Seaways from a “hold” rating to a “strong sell” rating in a research note on Friday, October 20th.
Shares of International Seaways (NYSE INSW) opened at $18.87 on Wednesday. The company has a quick ratio of 3.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $568.13 and a price-to-earnings ratio of -7.52. International Seaways has a one year low of $13.72 and a one year high of $23.43.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of International Seaways by 14.2% during the second quarter. Vanguard Group Inc. now owns 1,812,662 shares of the transportation company’s stock valued at $39,280,000 after purchasing an additional 224,894 shares in the last quarter. Numeric Investors LLC grew its holdings in International Seaways by 4.1% during the second quarter. Numeric Investors LLC now owns 901,309 shares of the transportation company’s stock worth $19,531,000 after acquiring an additional 35,500 shares during the period. Donald Smith & CO. Inc. grew its holdings in International Seaways by 52.5% during the third quarter. Donald Smith & CO. Inc. now owns 847,222 shares of the transportation company’s stock worth $16,690,000 after acquiring an additional 291,656 shares during the period. Frontier Capital Management Co. LLC acquired a new position in International Seaways during the third quarter worth about $16,062,000. Finally, Dimensional Fund Advisors LP grew its holdings in International Seaways by 59.0% during the third quarter. Dimensional Fund Advisors LP now owns 561,379 shares of the transportation company’s stock worth $11,059,000 after acquiring an additional 208,301 shares during the period. Institutional investors and hedge funds own 86.33% of the company’s stock.
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About International Seaways
International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.
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