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

Shares of International Seaways Inc. (NYSE:INSW) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $88.00.

INSW has been the topic of several recent analyst reports. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Jefferies Financial Group upped their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. BTIG Research increased their price objective on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th.

International Seaways Trading Up 0.9%

Shares of INSW opened at $97.97 on Tuesday. International Seaways has a twelve month low of $41.25 and a twelve month high of $99.43. The stock has a market cap of $4.85 billion, a PE ratio of 6.26 and a beta of -0.13. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $87.63 and its 200-day moving average price is $78.85.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. The company had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. International Seaways’s revenue was up 138.9% compared to the same quarter last year. During the same period last year, the business earned $1.02 earnings per share. On average, equities analysts forecast that International Seaways will post 15.89 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 20.6%. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is 3.07%.

Insider Activity

In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.34, for a total transaction of $162,680.00. Following the completion of the sale, the chief executive officer owned 177,745 shares in the company, valued at approximately $14,457,778.30. This trade represents a 1.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently bought and sold shares of the stock. Caitlin John LLC purchased a new position in International Seaways in the 2nd quarter worth approximately $100,000. Harvey Capital Management Inc. bought a new position in shares of International Seaways during the 2nd quarter valued at $1,232,000. Public Employees Retirement System of Ohio purchased a new position in shares of International Seaways in the second quarter worth about $66,000. Palo Duro Investment Partners LP purchased a new position in shares of International Seaways in the second quarter worth about $253,000. Finally, Bank of America Corp DE bought a new stake in shares of International Seaways in the 2nd quarter valued at about $11,833,000. 67.29% of the stock is currently owned by institutional investors.

About International Seaways

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.