International Seaways (INSW) Projected to Post 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 interested in participating in the company’s conference call can do so using this link.

International Seaways Stock Down 3.5 %

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

Wall Street Analyst Weigh In

INSW has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Insider Activity

In other news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now owns 49,803 shares in the company, valued at $1,746,591.21. This represents a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 3,000 shares of company stock worth $113,710. Insiders own 1.90% 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 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.