International Seaways (INSW) Suffers a Larger Drop Than the General Market: Key Insights
In the latest market close, International Seaways (INSW) reached $54.64, with a -1.18% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.23%, and the technology-centric Nasdaq decreased by 0.33%.
The the stock of company has risen by 2.69% in the past month, leading the Transportation sector's loss of 10.34% and the S&P 500's loss of 4.05%.
The upcoming earnings release of International Seaways will be of great interest to investors. The company's earnings report is expected on May 8, 2024. The company is expected to report EPS of $2.38, down 27.88% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $249.04 million, indicating a 13.27% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.33 per share and revenue of $964.86 million, indicating changes of -17.07% and -9.98%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for International Seaways. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.3% lower within the past month. Currently, International Seaways is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that International Seaways has a Forward P/E ratio of 5.93 right now. This expresses a discount compared to the average Forward P/E of 7.58 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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International Seaways Inc. (INSW) : Free Stock Analysis Report
