International Seaways Inc. (NYSE:INSW) Receives $86.00 Consensus PT from Analysts

International Seaways Inc. (NYSE:INSW) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $86.00.

A number of research firms recently issued reports on INSW. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. 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. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 price objective on shares of International Seaways in a research note on Friday, May 8th. BTIG Research increased their price objective on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th.

International Seaways Price Performance

INSW stock opened at $95.31 on Friday. The stock has a 50-day moving average price of $84.42 and a two-hundred day moving average price of $75.72. International Seaways has a 12-month low of $39.06 and a 12-month high of $95.65. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.72 billion, a PE ratio of 8.68 and a beta of -0.12.

International Seaways (NYSE:INSW) last announced its quarterly 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 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 revenue was up 77.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. As a group, research analysts predict that International Seaways will post 15.62 EPS for the current year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, June 12th. International Seaways’s dividend payout ratio is currently 4.37%.

Insider Buying and Selling

In other International Seaways news, SVP William F. Nugent sold 6,830 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the completion of the transaction, the senior vice president owned 49,169 shares in the company, valued at $4,190,673.87. This represents a 12.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Derek G. Solon sold 4,700 shares of International Seaways stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total transaction of $419,334.00. Following the sale, the senior vice president owned 49,719 shares in the company, valued at $4,435,929.18. This represents a 8.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 42,530 shares of company stock valued at $3,699,995. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in International Seaways by 42.0% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of International Seaways by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock valued at $800,000 after acquiring an additional 900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of International Seaways by 16.8% during the first 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 acquiring an additional 18,509 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of International Seaways during the second quarter worth about $223,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of International Seaways during the second quarter worth about $1,626,000. 67.29% of the stock is owned by institutional investors and hedge funds.

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.