International Seaways up after prelim Q3 revenue tops estimates

By Reuters News

** US oil tanker shipping company International Seaways up 2.9% at $116.4 premarket

** Reports Q3 preliminary revenue in the range of $480 mln-$490 mln, above analysts' consensus estimates of $315.75 mln, according to data compiled by LSEG

** INSW reports Q3 prelim net income in the range of $340 mln-$350 mln vs estimates of $174.5 mln

** Says Q3 results driven primarily by strong market conditions

** Full earnings release is due on November 5

** Co also announces acquisition of Bruton BRUT.OL in deal valuing shipping firm at approx $370 mln; Bruton shares were last down 5%

** 7 of 8 brokerages rate the stock "buy" or higher and 1 "hold"; median PT $128 - data compiled by LSEG

** As of last close, INSW stock has more than doubled YTD

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