Shares of International Seaways (NYSE:INSW) have earned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 1-year consensus target price of $27.00 for the company and are predicting that the company will post ($0.56) EPS for the current quarter, according to Zacks. Zacks has also given International Seaways an industry rank of 232 out of 265 based on the ratings given to its competitors.
A number of brokerages recently issued reports on INSW. ValuEngine downgraded International Seaways from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Pareto Securities began coverage on International Seaways in a report on Tuesday, January 16th. They issued a “buy” rating for the company. Finally, Zacks Investment Research downgraded International Seaways from a “hold” rating to a “sell” rating in a report on Tuesday, January 16th.
Shares of International Seaways (NYSE INSW) traded down $0.28 on Wednesday, reaching $18.78. The company had a trading volume of 149,643 shares, compared to its average volume of 192,250. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.79 and a quick ratio of 2.72. The firm has a market capitalization of $554.45, a P/E ratio of -5.15 and a beta of -0.14. International Seaways has a 52-week low of $15.23 and a 52-week high of $23.43.
International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, March 8th. The transportation company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.03. The firm had revenue of $69.40 million during the quarter, compared to the consensus estimate of $66.17 million. International Seaways had a negative return on equity of 0.11% and a negative net margin of 36.57%. The firm’s quarterly revenue was down 19.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.98) earnings per share. equities research analysts predict that International Seaways will post -1.08 EPS for the current fiscal year.
In other news, major shareholder Paulson & Co. Inc. acquired 357,479 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was acquired at an average cost of $18.34 per share, with a total value of $6,556,164.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Mangrove Partners boosted its holdings in shares of International Seaways by 93.4% in the fourth quarter. Mangrove Partners now owns 777,561 shares of the transportation company’s stock valued at $14,354,000 after acquiring an additional 375,417 shares during the period. Deutsche Bank AG boosted its holdings in shares of International Seaways by 70.3% in the fourth quarter. Deutsche Bank AG now owns 66,735 shares of the transportation company’s stock valued at $1,231,000 after acquiring an additional 27,559 shares during the period. Thrivent Financial For Lutherans acquired a new stake in shares of International Seaways in the fourth quarter valued at approximately $1,076,000. Donald Smith & CO. Inc. boosted its holdings in shares of International Seaways by 184.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,407,644 shares of the transportation company’s stock valued at $44,445,000 after acquiring an additional 1,560,422 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of International Seaways by 17.9% in the fourth quarter. Alliancebernstein L.P. now owns 51,265 shares of the transportation company’s stock valued at $946,000 after acquiring an additional 7,800 shares during the period. 85.35% of the stock is owned by institutional investors and hedge funds.
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About International Seaways
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of March 8, 2018, the company owned or operated a fleet of 53 vessels, including 1 ultra large crude carrier, 9 very large crude carriers, 2 Suezmaxes, 8 Aframaxes, 12 Panamaxes, and 15 medium range tankers.
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