BUZZ-International Seaways shares rise as its preliminary third-quarter revenue exceeds expectations

October 16 - ** US oil tanker company International Seaways (INSW.K) rose 2.9% in pre-market trading to $116.4

** According to data compiled by London Stock Exchange Group (LSEG), (link) preliminary third-quarter revenue is between $480 million and $490 million, exceeding the consensus analyst estimate of $315.75 million

** INSW reports preliminary third-quarter net profit between $340 million and $350 million, compared with a market expectation of $174.5 million

**States that third-quarter results mainly benefited from a robust market environment

**Full financial report will be released on November 5

** The company also announced the acquisition of BrutonBRUT.OL, valuing the shipping company at approximately $370 million; Bruton’s share price recently fell by 5%

** Of 8 brokerages, 7 rate the stock as “buy” or higher, and 1 rates it as “hold”; the median target price is $128—data compiled by LSEG

** As of the close of the previous trading day, INSW shares have more than doubled this year

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