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

International Seaways Inc. (NYSE:INSW) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $94.75.

Several analysts have recently issued reports on INSW shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a research note on Tuesday, September 1st. Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group boosted their price objective on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th.

Insiders Place Their Bets

In other news, CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the sale, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at approximately $17,103,457.80. The trade was a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,000 shares of company stock worth $441,240 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in shares of International Seaways by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after acquiring an additional 118 shares during the last quarter. Allworth Financial LP lifted its stake in International Seaways by 23.4% during the second quarter. Allworth Financial LP now owns 623 shares of the transportation company’s stock worth $48,000 after purchasing an additional 118 shares during the last quarter. GAMMA Investing LLC lifted its stake in International Seaways by 4.0% during the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock worth $353,000 after purchasing an additional 178 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in International Seaways by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after purchasing an additional 200 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after purchasing an additional 241 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Price Performance

Shares of INSW opened at $103.59 on Friday. International Seaways has a fifty-two week low of $42.26 and a fifty-two week high of $106.73. The firm’s 50 day moving average price is $94.55 and its 200 day moving average price is $83.86. The company has a market cap of $5.13 billion, a P/E ratio of 6.62, a PEG ratio of 0.26 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.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating the consensus estimate of $5.55 by $0.36. The company had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm’s revenue was up 138.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. On average, research analysts forecast that International Seaways will post 16.09 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a dividend yield of 19.5%. The ex-dividend date is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 129.16%.

About International Seaways

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.