International Seaways (INSW) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of International Seaways (NYSE:INSW) from a hold rating to a sell rating in a research note released on Tuesday.

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) opened at $18.47 on Tuesday. The stock has a market cap of $535.84 and a PE ratio of 33.49. International Seaways has a one year low of $16.37 and a one year high of $23.43. 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 announced its quarterly earnings results on Thursday, November 9th. The transportation company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ 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%. analysts expect that International Seaways will post -0.05 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc raised its position in International Seaways by 61.7% in the 2nd quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock worth $138,000 after buying an additional 2,424 shares during the last quarter. Goldman Sachs Group Inc. raised its position in International Seaways by 20.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 35,965 shares of the transportation company’s stock worth $779,000 after buying an additional 6,019 shares during the last quarter. Wells Fargo & Company MN raised its position in International Seaways by 44.2% in the 3rd quarter. Wells Fargo & Company MN now owns 32,463 shares of the transportation company’s stock worth $639,000 after buying an additional 9,945 shares during the last quarter. Macquarie Group Ltd. purchased a new position in International Seaways in the 3rd quarter worth about $199,000. Finally, The Manufacturers Life Insurance Company raised its position in International Seaways by 93.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,930 shares of the transportation company’s stock worth $497,000 after buying an additional 11,054 shares during the last quarter. 86.33% of the stock is owned by institutional investors and hedge funds.

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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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