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International Seaways is a medium-sized tanker company with a diverse fleet of 76 tankers. The company has strong earnings, with a P/E ratio of around 3, and a solid balance sheet. INSW is a cheap investment option for exposure to the tanker market, offering regular + special dividends, stock repurchases and debt paydowns.
International Seaways (INSW) came out with quarterly earnings of $3.30 per share, beating the Zacks Consensus Estimate of $2.96 per share. This compares to loss of $0.28 per share a year ago.
I expect TORM stock to continue to grow in the next few years, thanks to favorable market conditions and the still underestimated outlook of Wall Street analysts. But due to its idiosyncratic features and being slightly overcrowded, TORM stock is now a Hold, not a Buy.
International Seaways (INSW) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Here is how International Seaways (INSW) and Nordic American Tankers (NAT) have performed compared to their sector so far this year.
NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”) announced today that it plans to release first quarter 2023 results before market open on Friday, May 5, 2023. The Company will host a conference call for investors at 9:00 a.m. Eastern Time (“ET”) on the same day.
International Seaways: There Are No Waves High Enough To Stop It
International Seaways went through a merger and fleet update in 2021. The company has seen dramatic margin expansions since 2021.
Conditions seem to justify vigorous growth potential for the crude oil and petro products industry and International Seaways, Inc. Revenue and profits leapt in FY'22, moving the share price from as low as ~$15 to over $50 per share in four months, making them pricey for retail investors.
International Seaways (INSW) delivered earnings and revenue surprises of 9.64% and 8.59%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?