International Seaways Inc. (NYSE:INSW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

International Seaways Inc. (NYSE:INSW) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $57.3333.

INSW has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Finally, Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, January 20th.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 3,500 shares of International Seaways stock in a transaction on Monday, November 10th. The shares were sold at an average price of $53.71, for a total transaction of $187,985.00. Following the completion of the transaction, the senior vice president directly owned 49,393 shares of the company’s stock, valued at $2,652,898.03. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO James D. Small III sold 20,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $53.60, for a total transaction of $1,072,000.00. Following the completion of the transaction, the chief accounting officer owned 49,292 shares in the company, valued at approximately $2,642,051.20. This represents a 28.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,500 shares of company stock worth $1,732,605. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. increased its stake in shares of International Seaways by 43.9% during the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after purchasing an additional 216,325 shares during the period. Pacer Advisors Inc. grew its holdings in International Seaways by 4,255.3% in the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after buying an additional 192,848 shares in the last quarter. American Century Companies Inc. grew its holdings in International Seaways by 9.4% in the 2nd quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company’s stock valued at $67,674,000 after buying an additional 159,125 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in International Seaways by 105.2% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock worth $9,864,000 after buying an additional 138,625 shares during the period. Finally, Marex Group plc acquired a new stake in shares of International Seaways during the second quarter worth $4,276,000. Institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

NYSE:INSW opened at $59.21 on Friday. International Seaways has a 52-week low of $27.20 and a 52-week high of $60.59. The company has a market cap of $2.93 billion, a P/E ratio of 13.49 and a beta of -0.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The stock’s 50-day simple moving average is $52.16 and its 200 day simple moving average is $48.02.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 6th. The transportation company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.24. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The firm had revenue of $196.39 million for the quarter, compared to analyst estimates of $180.92 million. During the same quarter in the previous year, the firm earned $1.57 EPS. The business’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts forecast that International Seaways will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. International Seaways’s payout ratio is presently 10.93%.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.