International Seaways Inc. (NYSE:INSW) Receives Average Recommendation of “Buy” from Analysts

International Seaways Inc. (NYSE:INSW) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $68.00.

INSW has been the subject of several recent analyst reports. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th.

International Seaways Stock Performance

INSW opened at $67.69 on Friday. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $64.35 and its 200-day moving average is $54.38. The stock has a market cap of $3.34 billion, a PE ratio of 10.87 and a beta of -0.23. International Seaways has a twelve month low of $27.20 and a twelve month high of $78.51.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. The business had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. On average, analysts predict that International Seaways will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.7%. International Seaways’s payout ratio is presently 7.70%.

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $67.79, for a total value of $135,580.00. Following the sale, the chief executive officer owned 208,745 shares of the company’s stock, valued at approximately $14,150,823.55. The trade was a 0.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Treasurer Debra Grillo sold 389 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $76.27, for a total value of $29,669.03. Following the completion of the sale, the treasurer owned 1,185 shares of the company’s stock, valued at approximately $90,379.95. This trade represents a 24.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,697 shares of company stock valued at $4,459,450 over the last three months. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of International Seaways by 4,255.3% during the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after purchasing an additional 192,848 shares in the last quarter. Marex Group plc bought a new stake in shares of International Seaways in the 2nd quarter worth approximately $4,276,000. Denali Advisors LLC raised its holdings in shares of International Seaways by 94.3% in the 3rd quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company’s stock worth $2,248,000 after purchasing an additional 23,674 shares in the last quarter. American Century Companies Inc. lifted its stake in International Seaways by 7.5% during the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after purchasing an additional 139,868 shares during the last quarter. Finally, Creative Planning lifted its stake in International Seaways by 270.9% during the second quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock valued at $1,130,000 after purchasing an additional 22,628 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.