INSW Stock Recent News

Owning an International Seaways share exposes us to the broad tanker market. It is like investing in a tanker ETF and getting paid handsomely. Financially, INSW is in an excellent position. Operating cash flow and operating income sufficiently cover interest expenses. 2Q24 dividend is $1.50/share. At the present stock price, this means an 11.8% LTM yield. Besides that, INSW has a $50 million buyback program.

International Seaways' tanker market outlook is positive, driven by strategic fleet management amid global oil demand growth and geopolitical concerns. Maintaining a robust balance sheet with below 15% leverage, enabling flexibility for potential asset acquisitions and shareholder returns.

Value Investor's Edge Live returns with our latest episode focused on the oil and product tanker shipping sectors. INSW's management discusses market dynamics, catalysts, and capital allocation, highlighting a 60%-plus shareholder return policy and an active repurchase program. The tanker market is in a multi-year bull cycle, with INSW offering nearly 30% upside to our current "fair value estimate" of $63/sh, further supported by a strong balance sheet.

2Q24 earnings showed mixed results with a decline in spot earnings and fewer operating days, but INSW generated more free cash flow due to term loan conversion. The VLCC market is under pressure because of seasonality and uncertainty about OPEC+ production phase-out. Yet, the tanker market should pick up in Q4 as the seasonality winds down. However, increasing domestic crude requirements for Nigerian refineries and the Dangote refinery's production ramp-up could negatively impact the ton-mile demand for tankers.

International Seaways stock rose 2.6% in pre-market hours despite EPS missing expectations by $0.14/share. Q2 2024 revenues declined by 13% year-over-year, primarily due to lower vessel spot day rates. However, net income is positive and FCF generation is strong. Strong cash flow from operations, healthy balance sheet, and positive outlook support a buy recommendation for International Seaways.

International Seaways (INSW) came out with quarterly earnings of $2.37 per share, missing the Zacks Consensus Estimate of $2.50 per share. This compares to earnings of $3.12 per share a year ago.

International Seaways (INSW) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”) announced today that it plans to release second quarter 2024 results before market open on Wednesday, August 7, 2024. The Company will host a conference call for investors at 9:00 a.m. Eastern Time (“ET”) on the same day. Conference Call Details: Date:   Wednesday, August 7, 2024 Time   9:00 AM ET Dial-in Numbers   US: +1 (833) 470-1428     International: +1 (929) 526-1599 Conference ID   832060 A live.

International Seaways (INSW) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

International Seaways (INSW) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.