What is B. Riley’s Estimate for INSW FY2024 Earnings?

International Seaways, Inc. (NYSE:INSW) – Investment analysts at B. Riley increased their FY2024 earnings per share estimates for International Seaways in a report released on Wednesday, January 15th. B. Riley analyst L. Burke now expects that the transportation company will earn $8.04 per share for the year, up from their previous estimate of $7.16. The consensus estimate for International Seaways’ current full-year earnings is $7.92 per share. B. Riley also issued estimates for International Seaways’ Q4 2024 earnings at $0.36 EPS and FY2025 earnings at $4.18 EPS.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. During the same period last year, the company posted $1.99 EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis.

Several other equities analysts have also recently weighed in on INSW. Stifel Nicolaus downgraded shares of 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. Jefferies Financial Group reduced their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Trading Down 5.3 %

INSW opened at $39.39 on Friday. International Seaways has a fifty-two week low of $32.11 and a fifty-two week high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The company’s 50-day moving average is $38.23 and its 200 day moving average is $46.84. The firm has a market capitalization of $1.94 billion, a PE ratio of 3.81 and a beta of -0.10.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $1.32 dividend. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 13.41%. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.83, for a total transaction of $83,660.00. Following the sale, the chief executive officer now owns 151,475 shares in the company, valued at approximately $6,336,199.25. The trade was a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. This trade represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,200 shares of company stock valued at $248,012 over the last three months. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Seaways

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after buying an additional 305 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of International Seaways by 0.8% during the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 379 shares in the last quarter. KBC Group NV raised its position in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after purchasing an additional 428 shares during the last quarter. Cynosure Group LLC boosted its stake in International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock worth $370,000 after purchasing an additional 447 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its position in International Seaways by 2.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 22,702 shares of the transportation company’s stock valued at $1,342,000 after purchasing an additional 550 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

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.