International Seaways (NYSE:INSW) Hits New 1-Year High – Time to Buy?

International Seaways Inc. (NYSE:INSW) reached a new 52-week high on Friday . The company traded as high as $92.85 and last traded at $92.3360, with a volume of 46941 shares changing hands. The stock had previously closed at $91.35.

Wall Street Analyst Weigh In

INSW has been the topic of several recent research reports. Weiss Ratings upgraded 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 target on shares of International Seaways in a report on Friday, May 8th. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, BTIG Research increased their target price on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

International Seaways Stock Up 0.8%

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 stock has a market capitalization of $4.56 billion, a PE ratio of 8.40 and a beta of -0.12. The company has a 50 day moving average price of $83.60 and a 200-day moving average price of $74.25.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share 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 analysts’ expectations of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. As a group, analysts forecast that International Seaways Inc. will post 15.62 earnings per share for the current fiscal year.

International Seaways Announces Dividend

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

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 25,000 shares of the business’s stock in a transaction dated 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 owned 181,745 shares in the company, valued at $16,008,099.60. The trade was a 12.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William F. Nugent sold 6,830 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.23, for a total transaction of $582,120.90. Following the completion of the transaction, the senior vice president directly owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. The trade was a 12.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,530 shares of company stock worth $3,699,995 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in INSW. First Horizon Corp grew its stake in International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after purchasing an additional 377 shares during the period. Leonteq Securities AG bought a new stake in shares of International Seaways during the 4th quarter valued at $44,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of International Seaways during the 4th quarter valued at $46,000. Rockefeller Capital Management L.P. grew its position in shares of International Seaways by 583.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after buying an additional 822 shares during the period. Finally, Founders Capital Management grew its position in shares of International Seaways by 37.5% in the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.