International Seaways (INSW) Set to Announce Earnings on Wednesday

International Seaways (NYSE:INSW) is set to release its earnings data before the market opens on Wednesday, August 7th. Analysts expect International Seaways to post earnings of $2.50 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.54. The business had revenue of $274.40 million during the quarter, compared to the consensus estimate of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 EPS. On average, analysts expect International Seaways to post $10 EPS for the current fiscal year and $9 EPS for the next fiscal year.

International Seaways Price Performance

INSW stock opened at $55.31 on Wednesday. International Seaways has a 52-week low of $40.11 and a 52-week high of $65.94. The business has a 50-day simple moving average of $59.49 and a two-hundred day simple moving average of $55.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. The company has a market capitalization of $2.73 billion, a P/E ratio of 5.17 and a beta of -0.06.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were given a dividend of $1.75 per share. The ex-dividend date was Wednesday, June 12th. This represents a $7.00 annualized dividend and a dividend yield of 12.66%. This is a boost from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio (DPR) is currently 4.49%.

Insider Buying and Selling

In related news, SVP William F. Nugent sold 3,000 shares of International Seaways stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total value of $194,100.00. Following the sale, the senior vice president now owns 54,803 shares of the company’s stock, valued at approximately $3,545,754.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.83, for a total transaction of $58,830.00. Following the sale, the chief financial officer now owns 39,849 shares of the company’s stock, valued at approximately $2,344,316.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William F. Nugent sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total transaction of $194,100.00. Following the sale, the senior vice president now directly owns 54,803 shares in the company, valued at approximately $3,545,754.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,879 shares of company stock valued at $4,287,153. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on INSW shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Stifel Nicolaus lifted their target price on shares of International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $64.75.

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.