Wall Street analysts forecast that International Seaways (NYSE:INSW) will post earnings of ($0.56) per share for the current quarter, according to Zacks. Two analysts have issued estimates for International Seaways’ earnings. The highest EPS estimate is ($0.47) and the lowest is ($0.65). International Seaways posted earnings per share of $0.62 in the same quarter last year, which would indicate a negative year over year growth rate of 190.3%. The business is expected to report its next quarterly earnings report on Wednesday, May 9th.
On average, analysts expect that International Seaways will report full year earnings of ($1.08) per share for the current financial year, with EPS estimates ranging from ($1.17) to ($0.98). For the next financial year, analysts expect that the company will report earnings of $0.12 per share, with EPS estimates ranging from ($0.92) to $1.15. Zacks Investment Research’s EPS averages are a mean 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 Thursday, March 8th. The transportation company reported ($0.33) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.03. International Seaways had a negative net margin of 36.57% and a negative return on equity of 0.11%. The firm had revenue of $69.40 million for the quarter, compared to the consensus estimate of $66.17 million. During the same period last year, the firm posted ($1.98) earnings per share. The company’s revenue for the quarter was down 19.1% on a year-over-year basis.
In other news, major shareholder Paulson & Co. Inc. acquired 357,479 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was purchased at an average cost of $18.34 per share, for a total transaction of $6,556,164.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new stake in shares of International Seaways during the third quarter valued at about $199,000. Cubist Systematic Strategies LLC acquired a new stake in shares of International Seaways during the third quarter valued at about $325,000. Wells Fargo & Company MN increased its position in shares of International Seaways by 44.2% during the third quarter. Wells Fargo & Company MN now owns 32,463 shares of the transportation company’s stock valued at $639,000 after acquiring an additional 9,945 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of International Seaways during the fourth quarter valued at about $842,000. Finally, Alliancebernstein L.P. increased its position in shares of International Seaways by 17.9% during the fourth quarter. Alliancebernstein L.P. now owns 51,265 shares of the transportation company’s stock valued at $946,000 after acquiring an additional 7,800 shares during the last quarter. Institutional investors and hedge funds own 85.35% of the company’s stock.
International Seaways stock traded up $0.16 during midday trading on Friday, hitting $19.80. 9,776 shares of the stock were exchanged, compared to its average volume of 179,031. International Seaways has a fifty-two week low of $15.23 and a fifty-two week high of $23.43. The stock has a market cap of $554.45, a P/E ratio of -68.31 and a beta of -0.45. The company has a current ratio of 2.79, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49.
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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