Wall Street analysts expect that International Seaways Inc (NYSE:INSW) will report sales of $53.03 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for International Seaways’ earnings, with the lowest sales estimate coming in at $49.70 million and the highest estimate coming in at $55.75 million. International Seaways posted sales of $59.97 million in the same quarter last year, which would indicate a negative year over year growth rate of 11.6%. The company is expected to announce its next quarterly earnings report on Thursday, November 8th.

On average, analysts expect that International Seaways will report full year sales of $229.89 million for the current fiscal year, with estimates ranging from $222.50 million to $240.81 million. For the next year, analysts anticipate that the company will post sales of $307.92 million, with estimates ranging from $281.90 million to $331.58 million. Zacks’ sales averages are an average based on a survey of research firms that cover International Seaways.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, August 8th. The transportation company reported ($0.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.09). International Seaways had a negative return on equity of 6.07% and a negative net margin of 67.42%. The business had revenue of $56.91 million during the quarter, compared to analysts’ expectations of $46.74 million.

A number of analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of International Seaways in a research note on Monday, October 1st. They issued a “buy” rating and a $30.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of International Seaways in a research note on Tuesday, September 25th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Zacks Investment Research lowered shares of International Seaways from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $28.00.

NYSE:INSW traded down $0.09 during mid-day trading on Friday, reaching $21.43. The company’s stock had a trading volume of 63,313 shares, compared to its average volume of 152,233. International Seaways has a 1 year low of $15.23 and a 1 year high of $24.78. The firm has a market cap of $584.16 million, a PE ratio of -73.90 and a beta of -0.91. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.99 and a quick ratio of 1.94.

In other International Seaways news, major shareholder Bluemountain Capital Managemen sold 207,015 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $20.87, for a total value of $4,320,403.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Paulson & Co. Inc. sold 101,673 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $19.00, for a total transaction of $1,931,787.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,370,308 shares of company stock valued at $27,933,305. 0.90% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in INSW. United Services Automobile Association bought a new position in International Seaways in the second quarter worth about $225,000. California Public Employees Retirement System bought a new position in International Seaways in the first quarter worth about $235,000. Leisure Capital Management bought a new position in International Seaways in the second quarter worth about $240,000. OMERS ADMINISTRATION Corp bought a new position in International Seaways in the first quarter worth about $246,000. Finally, Jane Street Group LLC bought a new position in International Seaways in the second quarter worth about $427,000. Institutional investors and hedge funds own 85.39% 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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