International Seaways (INSW) Expected to Announce Quarterly Earnings on Thursday

International Seaways (NYSE:INSW) is anticipated 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. Investors that wish to listen to the company’s conference call can do so using this link.

International Seaways Stock Performance

Shares of INSW opened at $36.22 on Wednesday. The stock has a 50-day moving average of $37.61 and a two-hundred day moving average of $43.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock has a market cap of $1.78 billion, a P/E ratio of 3.50 and a beta of -0.11. International Seaways has a one year low of $32.11 and a one year high of $65.94.

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the transaction, the senior vice president now directly owns 49,803 shares in the company, valued at $1,746,591.21. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 3,000 shares of company stock valued at $113,710 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased 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. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.