Zacks Investment Research downgraded shares of International Seaways (NYSE:INSW) from a hold rating to a sell rating in a report released on Tuesday morning.
According to Zacks, “International Seaways, Inc. is a tanker company. It provides energy transportation services for crude oil and petroleum products. The company owns and operates a fleet which includes ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers. International Seaways, Inc. is headquartered in New York City. “
International Seaways (INSW) traded up $0.05 on Tuesday, reaching $18.47. The company had a trading volume of 180,850 shares, compared to its average volume of 169,054. International Seaways has a 1 year low of $16.37 and a 1 year high of $23.43. The firm has a market cap of $540.20 and a PE ratio of -7.36. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.78 and a quick ratio of 3.74.
International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 9th. The transportation company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.13). International Seaways had a positive return on equity of 1.36% and a negative net margin of 23.86%. equities research analysts anticipate that International Seaways will post -0.05 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in International Seaways by 61.7% during the 2nd quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock worth $138,000 after purchasing an additional 2,424 shares in the last quarter. Macquarie Group Ltd. acquired a new position in International Seaways during the 3rd quarter worth $199,000. Citadel Advisors LLC acquired a new position in International Seaways during the 2nd quarter worth $244,000. Voya Investment Management LLC acquired a new position in shares of International Seaways during the 2nd quarter worth about $292,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of International Seaways during the 3rd quarter worth about $325,000. 86.33% of the stock is owned by hedge funds and other institutional investors.
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International Seaways Company Profile
International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.
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