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

Shares of International Seaways Inc. (NYSE:INSW) have received a consensus rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $83.50.

A number of equities analysts recently issued reports on the company. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. 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. Finally, Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th.

Insider Buying and Selling

In other International Seaways news, SVP Derek G. Solon sold 4,700 shares of International Seaways stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total transaction of $419,334.00. Following the completion of the transaction, the senior vice president owned 49,719 shares in the company, valued at approximately $4,435,929.18. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 25,000 shares of International Seaways stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the transaction, the chief executive officer owned 181,745 shares of the company’s stock, valued at $16,008,099.60. The trade was a 12.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 45,530 shares of company stock worth $3,881,355. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On International Seaways

A number of institutional investors have recently modified their holdings of INSW. Charles Schwab Investment Management Inc. increased its stake in shares of International Seaways by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after purchasing an additional 12,188 shares in the last quarter. Resolute Capital LLC purchased a new position in shares of International Seaways in the 4th quarter valued at about $1,273,000. TrueMark Investments LLC acquired a new stake in International Seaways in the 4th quarter worth about $1,404,000. SG Americas Securities LLC boosted its holdings in International Seaways by 123.4% in the 4th quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock worth $1,664,000 after buying an additional 18,935 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in International Seaways in the 4th quarter worth about $910,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Stock Performance

Shares of INSW stock opened at $81.47 on Thursday. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 7.42 and a beta of -0.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The business has a fifty day moving average of $79.82 and a 200 day moving average of $66.28. International Seaways has a 1 year low of $36.03 and a 1 year high of $92.66.

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

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. International Seaways’s dividend payout ratio (DPR) is presently 4.37%.

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.