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

International Seaways Inc. (NYSE:INSW) has been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $86.00.

INSW has been the subject of several recent research reports. Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, Pareto Securities downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th.

Insider Activity

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Derek G. Solon sold 4,700 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total transaction of $419,334.00. Following the sale, the senior vice president directly owned 49,719 shares of the company’s stock, valued at approximately $4,435,929.18. This represents a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,530 shares of company stock valued at $3,923,635 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of International Seaways

Several large investors have recently modified their holdings of INSW. Royal Bank of Canada boosted its holdings 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 purchasing an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in International Seaways by 16.8% in 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 valued at $4,264,000 after purchasing an additional 18,509 shares during the period. Prudential Financial Inc. bought a new stake in International Seaways in the 2nd quarter valued at $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in International Seaways in the 2nd quarter valued at $1,626,000. 67.29% of the stock is owned by institutional investors.

International Seaways Stock Performance

INSW stock opened at $79.29 on Monday. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 7.22 and a beta of -0.12. International Seaways has a 12 month low of $36.03 and a 12 month high of $92.66. The firm has a 50 day moving average of $82.51 and a two-hundred day moving average of $69.31.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping the consensus estimate of $2.87 by $1.03. The company had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, equities analysts anticipate that International Seaways will post 14.99 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, June 12th. International Seaways’s dividend payout ratio is currently 4.37%.

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.