International Seaways (INSW) Gains As Market Dips: What You Should Know
In the latest trading session, International Seaways (INSW) closed at $34.31, marking a +0.15% move from the previous day. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.11%.
Coming into today, shares of the company had gained 5.32% in the past month. In that same time, the Transportation sector lost 12.09%, while the S&P 500 lost 8.4%.
Wall Street will be looking for positivity from International Seaways as it approaches its next earnings report date. The company is expected to report EPS of $1.95, up 409.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $214.62 million, up 153.03% from the year-ago period.
INSW's full-year Zacks Consensus Estimates are calling for earnings of $5.49 per share and revenue of $701.71 million. These results would represent year-over-year changes of +345.09% and +157.46%, respectively.
Any recent changes to analyst estimates for International Seaways should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 20.55% higher. International Seaways currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, International Seaways is currently trading at a Forward P/E ratio of 6.25. For comparison, its industry has an average Forward P/E of 3.16, which means International Seaways is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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