Analysts Set International Seaways Inc. (NYSE:INSW) PT at $94.75

Shares of International Seaways Inc. (NYSE:INSW) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $102.25.

INSW has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a research report on Tuesday, September 1st. BTIG Research raised their price target on shares of International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Jefferies Financial Group increased their price objective on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, August 13th.

International Seaways Trading Up 0.7%

Shares of NYSE INSW opened at $111.26 on Friday. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 0.28 and a beta of -0.13. International Seaways has a 12-month low of $42.26 and a 12-month high of $113.14. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $96.84 and its 200 day simple moving average is $85.19.

International Seaways (NYSE:INSW) last issued its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.36. The firm had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The firm’s revenue for the quarter was up 138.9% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. Equities research analysts expect that International Seaways will post 16.09 EPS for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $5.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a dividend yield of 18.2%. International Seaways’s dividend payout ratio (DPR) is currently 129.16%.

Insider Activity at International Seaways

In related news, CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total transaction of $216,020.00. Following the sale, the chief executive officer directly owned 171,745 shares in the company, valued at $18,550,177.45. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in International Seaways in the second quarter worth approximately $28,000. Leonteq Securities AG bought a new stake in shares of International Seaways in the 4th quarter worth $44,000. Rockefeller Capital Management L.P. raised its stake in shares of International Seaways by 583.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after buying an additional 822 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of International Seaways in the second quarter valued at $48,000. Finally, Public Employees Retirement System of Ohio bought a new position in International Seaways during the second quarter valued at about $66,000. 67.29% of the stock is currently owned by institutional investors.

International Seaways Company Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.