International Seaways (INSW) to Release Quarterly Earnings on Thursday

International Seaways (NYSE:INSW) is expected to issue its quarterly earnings data before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of $1.71 per share and revenue of $187.75 million for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

International Seaways Trading Up 2.5 %

Shares of International Seaways stock opened at $37.66 on Tuesday. The business has a fifty day simple moving average of $37.56 and a two-hundred day simple moving average of $43.37. International Seaways has a 1 year low of $32.11 and a 1 year high of $65.94. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 3.64 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

Insider Buying and Selling

In related news, SVP Derek G. Solon sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the transaction, the senior vice president now owns 45,687 shares in the company, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the transaction, the senior vice president now owns 48,803 shares in the company, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,200 shares of company stock worth $160,402. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INSW shares. SEB Equity Research set a $50.00 target price on International Seaways in a report on Friday, January 24th. Jefferies Financial Group dropped their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.00.

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 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.