International Seaways (NYSE:INSW) Posts Earnings Results, Misses Estimates By $0.81 EPS

International Seaways (NYSE:INSW - Get Free Report) announced its quarterly earnings data on Thursday. The transportation company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.81), Zacks reports. The firm had revenue of $194.61 million for the quarter, compared to analyst estimates of $187.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%.

International Seaways Price Performance

Shares of INSW traded down $0.40 during trading hours on Monday, reaching $32.93. The stock had a trading volume of 1,479,074 shares, compared to its average volume of 664,542. The stock has a market capitalization of $1.62 billion, a PE ratio of 3.18 and a beta of -0.11. International Seaways has a 12 month low of $32.11 and a 12 month high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The company's 50-day moving average is $37.72 and its two-hundred day moving average is $42.96.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. International Seaways's dividend payout ratio (DPR) is presently 4.64%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INSW. Jefferies Financial Group reissued a "buy" rating and set a $58.00 price target on shares of International Seaways in a report on Thursday. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.50.

Remove Ads

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the sale, the senior vice president now directly owns 48,803 shares in the company, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

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.