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

International Seaways Inc. (NYSE:INSW) has been given an average rating of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $83.50.

Several brokerages have recently weighed in on INSW. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Benchmark reiterated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th.

International Seaways Price Performance

Shares of NYSE:INSW opened at $78.14 on Thursday. The company’s 50-day moving average is $79.27 and its 200 day moving average is $65.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The company has a market capitalization of $3.87 billion, a P/E ratio of 7.12 and a beta of -0.12. International Seaways has a fifty-two week low of $36.03 and a fifty-two week high of $92.66.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating the consensus estimate of $2.87 by $1.03. The business had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company’s revenue was up 77.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, equities research analysts forecast that International Seaways will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways’s dividend payout ratio is 4.37%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the transaction, the chief executive officer directly owned 181,745 shares in the company, valued at $16,008,099.60. This trade represents a 12.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William F. Nugent sold 6,830 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.23, for a total value of $582,120.90. Following the sale, the senior vice president directly owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. This trade represents a 12.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 55,009 shares of company stock valued at $4,591,888. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Seaways by 1.9% during 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 buying an additional 12,188 shares in the last quarter. Resolute Capital LLC bought a new stake in shares of International Seaways during the 4th quarter valued at $1,273,000. TrueMark Investments LLC bought a new stake in shares of International Seaways during the 4th quarter valued at $1,404,000. Assenagon Asset Management S.A. bought a new stake in shares of International Seaways during the 4th quarter valued at $910,000. Finally, SG Americas Securities LLC boosted its holdings in shares of International Seaways by 123.4% during the 4th quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock valued at $1,664,000 after buying an additional 18,935 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.