International Seaways Inc. (INSW) Posts Earnings Results, Misses Expectations By $0.55 EPS
International Seaways Inc. (NYSE:INSW) announced its quarterly earnings data on Wednesday. The transportation company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.55, MarketWatch Earnings reports. The company had revenue of $71.90 million during the quarter, compared to analyst estimates of $73 million. The firm’s revenue was down 30.3% compared to the same quarter last year.
Shares of International Seaways (NYSE INSW) traded down 2.41% during midday trading on Wednesday, hitting $21.49. The company had a trading volume of 283,739 shares. The stock’s 50-day moving average price is $21.90 and its 200-day moving average price is $19.77. The stock’s market capitalization is $627.70 million. International Seaways has a one year low of $9.00 and a one year high of $23.43.
A number of equities research analysts recently commented on INSW shares. Zacks Investment Research raised International Seaways from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday. J P Morgan Chase & Co started coverage on International Seaways in a research note on Tuesday, June 13th. They set an “overweight” rating and a $30.00 price objective for the company.
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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