Zacks: Brokerages Anticipate International Seaways Inc. (NYSE:INSW) Will Announce Quarterly Sales of $73.46 Million
Equities research analysts expect International Seaways Inc. (NYSE:INSW) to announce sales of $73.46 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for International Seaways’ earnings, with the highest sales estimate coming in at $77.39 million and the lowest estimate coming in at $66.60 million. The company is expected to announce its next earnings report before the market opens on Wednesday, August 9th.
According to Zacks, analysts expect that International Seaways will report full year sales of $73.46 million for the current financial year, with estimates ranging from $292.40 million to $328.03 million. For the next year, analysts expect that the company will post sales of $312.14 million per share, with estimates ranging from $300.90 million to $320.53 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for International Seaways.
International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, May 10th. The transportation company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by $0.01. The firm had revenue of $84.10 million during the quarter, compared to analyst estimates of $85 million. The business’s revenue was down 32.6% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of International Seaways from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. J P Morgan Chase & Co assumed coverage on shares of International Seaways in a research note on Tuesday, June 13th. They issued an “overweight” rating and a $30.00 target price on the stock.
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Several large investors have recently modified their holdings of INSW. Marshall Wace North America L.P. bought a new stake in shares of International Seaways during the second quarter worth about $1,853,000. Legal & General Group Plc raised its stake in shares of International Seaways by 61.7% in the second quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock worth $138,000 after buying an additional 2,424 shares during the period. Bank of New York Mellon Corp raised its stake in shares of International Seaways by 74.4% in the second quarter. Bank of New York Mellon Corp now owns 132,538 shares of the transportation company’s stock worth $2,871,000 after buying an additional 56,562 shares during the period. Rhumbline Advisers raised its stake in shares of International Seaways by 105.2% in the second quarter. Rhumbline Advisers now owns 33,878 shares of the transportation company’s stock worth $734,000 after buying an additional 17,369 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of International Seaways by 85.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,098 shares of the transportation company’s stock worth $1,173,000 after buying an additional 25,000 shares during the period. Institutional investors and hedge funds own 85.74% of the company’s stock.
International Seaways (NYSE:INSW) traded up 0.13% during mid-day trading on Wednesday, hitting $22.45. The stock had a trading volume of 119,702 shares. International Seaways has a one year low of $9.00 and a one year high of $23.43. The stock’s market cap is $655.74 million. The company has a 50 day moving average price of $21.70 and a 200 day moving average price of $19.71.
International Seaways Company Profile
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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