Shares of International Seaways Inc (NYSE:INSW) have received an average recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $28.00.
A number of brokerages recently weighed in on INSW. Zacks Investment Research lowered shares of International Seaways from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Stifel Nicolaus began coverage on shares of International Seaways in a research report on Tuesday, September 25th. They set a “buy” rating and a $25.00 target price for the company. Finally, Jefferies Financial Group began coverage on shares of International Seaways in a research report on Monday, October 1st. They set a “buy” rating and a $30.00 target price for the company.
In related news, major shareholder Paulson & Co. Inc. sold 125,000 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $18.15, for a total transaction of $2,268,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bluemountain Capital Managemen sold 207,015 shares of the company’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $20.87, for a total transaction of $4,320,403.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,370,308 shares of company stock valued at $27,933,305. 0.90% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Paloma Partners Management Co bought a new position in International Seaways during the second quarter valued at $956,000. LMR Partners LLP bought a new position in International Seaways during the second quarter valued at $452,000. Dimensional Fund Advisors LP lifted its position in International Seaways by 32.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,030,466 shares of the transportation company’s stock valued at $18,136,000 after purchasing an additional 250,173 shares during the last quarter. Bienville Capital Management LLC bought a new position in International Seaways during the second quarter valued at $1,391,000. Finally, Schwab Charles Investment Management Inc. lifted its position in International Seaways by 3.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 145,398 shares of the transportation company’s stock valued at $2,560,000 after purchasing an additional 4,431 shares during the last quarter. Institutional investors and hedge funds own 85.39% of the company’s stock.
Shares of NYSE:INSW traded up $0.13 during midday trading on Monday, reaching $21.56. 53,700 shares of the company were exchanged, compared to its average volume of 151,725. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.94 and a current ratio of 1.99. International Seaways has a one year low of $15.23 and a one year high of $24.78. The firm has a market cap of $584.16 million, a price-to-earnings ratio of -73.86 and a beta of -0.91.
International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, August 8th. The transportation company reported ($0.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.09). International Seaways had a negative return on equity of 6.07% and a negative net margin of 67.42%. The company had revenue of $56.91 million for the quarter, compared to the consensus estimate of $46.74 million. As a group, research analysts predict that International Seaways will post -2.34 earnings per share for the current year.
About International Seaways
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of June 14, 2018, the company owned and operated a fleet of 55 vessels, including 1 ultra large crude carrier, 14 very large crude carriers, 2 Suezmaxes, 7 Aframaxes, 12 Panamaxes, and 13 medium range tankers.
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