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International Seaways (INSW) Surges 7.2%: Is This an Indication of Further Gains?
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International Seaways (INSW - Free Report) shares soared 7.2% in the last trading session to close at $36. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.6% gain over the past four weeks.
The stock is being aided by rising tanker rates. Owing to this favorable scenario, shares of INSW have surged 143.5% year to date.
This company is expected to post quarterly earnings of $1.95 per share in its upcoming report, which represents a year-over-year change of +409.5%. Revenues are expected to be $214.62 million, up 153% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For International Seaways, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INSW going forward to see if this recent jump can turn into more strength down the road.
International Seaways is a member of the Zacks Transportation - Shipping industry. One other stock in the same industry, Pangaea Logistics (PANL - Free Report) , finished the last trading session 1.9% higher at $4.79. PANL has returned -7.1% over the past month.
For Pangaea Logistics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. This represents a change of +6.3% from what the company reported a year ago. Pangaea Logistics currently has a Zacks Rank of #3 (Hold).
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International Seaways (INSW) Surges 7.2%: Is This an Indication of Further Gains?
International Seaways (INSW - Free Report) shares soared 7.2% in the last trading session to close at $36. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.6% gain over the past four weeks.
The stock is being aided by rising tanker rates. Owing to this favorable scenario, shares of INSW have surged 143.5% year to date.
This company is expected to post quarterly earnings of $1.95 per share in its upcoming report, which represents a year-over-year change of +409.5%. Revenues are expected to be $214.62 million, up 153% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For International Seaways, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INSW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
International Seaways is a member of the Zacks Transportation - Shipping industry. One other stock in the same industry, Pangaea Logistics (PANL - Free Report) , finished the last trading session 1.9% higher at $4.79. PANL has returned -7.1% over the past month.
For Pangaea Logistics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. This represents a change of +6.3% from what the company reported a year ago. Pangaea Logistics currently has a Zacks Rank of #3 (Hold).