Equities analysts predict that International Seaways Inc (NYSE:INSW) will post $53.40 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for International Seaways’ earnings, with the lowest sales estimate coming in at $49.60 million and the highest estimate coming in at $57.19 million. International Seaways reported sales of $59.97 million in the same quarter last year, which would suggest a negative year over year growth rate of 11%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that International Seaways will report full-year sales of $223.60 million for the current financial year, with estimates ranging from $220.60 million to $226.60 million. For the next financial year, analysts forecast that the firm will post sales of $305.58 million per share, with estimates ranging from $298.90 million to $312.26 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 released its earnings results on Wednesday, August 8th. The transportation company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.09). International Seaways had a negative net margin of 67.42% and a negative return on equity of 6.07%. The business had revenue of $56.91 million for the quarter, compared to analysts’ expectations of $46.74 million.

Separately, ValuEngine upgraded International Seaways from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd.

NYSE:INSW traded up $0.23 during trading hours on Thursday, reaching $20.75. The company had a trading volume of 79,972 shares, compared to its average volume of 87,788. International Seaways has a one year low of $15.23 and a one year high of $24.78. The stock has a market capitalization of $598.72 million, a price-to-earnings ratio of -71.55 and a beta of -0.84. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.99 and a quick ratio of 2.57.

Several hedge funds have recently made changes to their positions in the company. United Services Automobile Association acquired a new position in shares of International Seaways during the second quarter valued at $225,000. Leisure Capital Management acquired a new stake in shares of International Seaways during the second quarter worth about $240,000. California Public Employees Retirement System acquired a new stake in shares of International Seaways during the first quarter worth about $235,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of International Seaways during the first quarter worth about $246,000. Finally, LMR Partners LLP acquired a new stake in shares of International Seaways during the second quarter worth about $452,000. Institutional investors own 84.80% of the company’s stock.

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 June 14, 2018, the company owned and operated a fleet of 55 vessels, including 1 ultra large crude carrier, 14 very large crude carriers, 2 Suezmaxes, 7 Aframaxes, 12 Panamaxes, and 13 medium range tankers.

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Earnings History and Estimates for International Seaways (NYSE:INSW)

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