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

Shares of International Seaways Inc. (NYSE:INSW) have been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $83.50.

INSW has been the subject of a number of recent research reports. Weiss Ratings lowered International Seaways from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, April 7th. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 20th. BTIG Research lifted their price objective on International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group restated a “buy” rating and set a $100.00 target price on shares of International Seaways in a research note on Friday.

Insider Buying and Selling

In other International Seaways news, Director Randee E. Day sold 4,090 shares of International Seaways stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.93, for a total transaction of $306,463.70. Following the completion of the sale, the director directly owned 18,435 shares of the company’s stock, valued at $1,381,334.55. The trade was a 18.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $74.50, for a total value of $74,500.00. Following the transaction, the chief financial officer directly owned 103,984 shares of the company’s stock, valued at approximately $7,746,808. This represents a 0.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 60,697 shares of company stock valued at $4,517,070 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. Royal Bank of Canada lifted its position in shares of International Seaways by 42.0% during the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after buying an additional 2,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of International Seaways by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock valued at $800,000 after buying an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in International Seaways by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after acquiring an additional 18,509 shares in the last quarter. Prudential Financial Inc. acquired a new stake in International Seaways during the 2nd quarter worth $223,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in International Seaways in the second quarter valued at $1,626,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of INSW opened at $91.47 on Friday. The company has a market cap of $4.53 billion, a P/E ratio of 8.33 and a beta of -0.09. International Seaways has a fifty-two week low of $35.60 and a fifty-two week high of $92.66. The company has a quick ratio of 3.71, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average price is $74.69 and its 200 day moving average price is $61.28.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter last year, the company posted $0.80 EPS. The firm’s revenue was up 77.5% compared to the same quarter last year. On average, research analysts forecast that International Seaways will post 13.6 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s dividend payout ratio is 7.70%.

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.