International Seaways (INSW) to Release Quarterly Earnings on Thursday

International Seaways (NYSE:INSW - Get Free Report) will be announcing its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $1.42 per share for the quarter. Investors interested in listening to the company's conference call can do so using this link.

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

International Seaways Price Performance

Shares of INSW stock traded up $0.48 during trading hours on Thursday, reaching $43.81. The stock had a trading volume of 477,522 shares, compared to its average volume of 575,301. The stock's fifty day simple moving average is $50.02 and its 200 day simple moving average is $54.75. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. International Seaways has a 12 month low of $42.08 and a 12 month high of $65.94. The firm has a market capitalization of $2.16 billion, a PE ratio of 4.04 and a beta of -0.08.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were given a $0.12 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. International Seaways's dividend payout ratio (DPR) is currently 4.49%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $49.22, for a total value of $98,440.00. Following the sale, the chief executive officer now directly owns 153,475 shares of the company's stock, valued at $7,554,039.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $49.22, for a total value of $98,440.00. Following the transaction, the chief executive officer now owns 153,475 shares in the company, valued at $7,554,039.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now owns 16,109 shares in the company, valued at approximately $792,079.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock valued at $695,870 in the last three months. 1.90% of the stock is currently owned by company 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.