International Seaways Inc. (NYSE:INSW) Given Consensus Rating of “Buy” by Brokerages

International Seaways Inc. (NYSE:INSW) has been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $68.00.

Several research firms have recently weighed in on INSW. Weiss Ratings lowered International Seaways from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Pareto Securities raised 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. Finally, Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th.

International Seaways Stock Performance

INSW stock opened at $72.44 on Wednesday. The stock has a 50-day moving average price of $69.69 and a 200-day moving average price of $57.57. International Seaways has a 1-year low of $31.01 and a 1-year high of $78.51. 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 firm has a market cap of $3.59 billion, a PE ratio of 11.63 and a beta of -0.23.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.70. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The firm had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. During the same period last year, the company posted $0.90 EPS. The business’s quarterly revenue was up 37.7% on a year-over-year basis. As a group, equities research analysts expect 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 was paid on Monday, March 30th. Investors of record on Friday, March 20th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, March 20th. International Seaways’s payout ratio is presently 7.70%.

Insiders Place Their Bets

In related news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $66.50, for a total value of $66,500.00. Following the completion of the sale, the chief financial officer directly owned 100,521 shares of the company’s stock, valued at $6,684,646.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Treasurer Debra Grillo sold 389 shares of the business’s stock in a transaction dated 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 directly owned 1,185 shares of the company’s stock, valued at $90,379.95. The trade was a 24.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,697 shares of company stock worth $4,459,450 over the last three months. Insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Corp increased its position in International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after buying an additional 377 shares in the last quarter. Federated Hermes Inc. increased its holdings in International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after purchasing an additional 378 shares in the last quarter. Leonteq Securities AG bought a new stake in International Seaways during the 4th quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC bought a new stake in International Seaways during the 4th quarter worth approximately $46,000. Finally, Rockefeller Capital Management L.P. increased its holdings in International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares in the last quarter. 67.29% of the stock is 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.