International Seaways (NYSE:INSW) Hits New 52-Week High at $35.11

International Seaways, Inc. (NYSE:INSWGet Rating) shares hit a new 52-week high on Monday . The stock traded as high as $35.11 and last traded at $34.95, with a volume of 11554 shares. The stock had previously closed at $33.59.

Analyst Upgrades and Downgrades

INSW has been the topic of several recent research reports. StockNews.com raised shares of International Seaways from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Stifel Nicolaus increased their price objective on shares of International Seaways from $27.00 to $31.00 in a research report on Tuesday, July 19th. Jefferies Financial Group increased their price objective on shares of International Seaways from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. BTIG Research raised shares of International Seaways from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday, July 27th. Finally, Clarkson Capital reissued a “buy” rating on shares of International Seaways in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

International Seaways Stock Performance

The firm’s fifty day moving average price is $27.78 and its 200-day moving average price is $23.21. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -35.95 and a beta of 0.03.

International Seaways (NYSE:INSWGet Rating) last issued its earnings results on Tuesday, August 9th. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.21. International Seaways had a negative net margin of 9.66% and a negative return on equity of 0.07%. The business had revenue of $188.20 million during the quarter, compared to analysts’ expectations of $176.49 million. Analysts expect that International Seaways, Inc. will post 4.55 earnings per share for the current year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, September 13th. International Seaways’s dividend payout ratio is currently -48.00%.

Insider Buying and Selling

In related news, Director Douglas D. Wheat sold 20,000 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $30.85, for a total transaction of $617,000.00. Following the completion of the sale, the director now owns 62,504 shares in the company, valued at approximately $1,928,248.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Douglas D. Wheat sold 20,000 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $30.85, for a total transaction of $617,000.00. Following the completion of the sale, the director now owns 62,504 shares in the company, valued at approximately $1,928,248.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ian T. Blackley sold 15,499 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $32.57, for a total transaction of $504,802.43. Following the completion of the sale, the director now owns 24,090 shares of the company’s stock, valued at approximately $784,611.30. The disclosure for this sale can be found here. Insiders sold a total of 37,499 shares of company stock worth $1,166,212 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Institutional Trading of International Seaways

Several hedge funds have recently made changes to their positions in INSW. Point72 Hong Kong Ltd acquired a new stake in shares of International Seaways in the 4th quarter worth $29,000. Amalgamated Bank acquired a new stake in shares of International Seaways in the 1st quarter worth $100,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of International Seaways in the 4th quarter worth $146,000. Blueshift Asset Management LLC acquired a new stake in shares of International Seaways in the 1st quarter worth $198,000. Finally, AQR Capital Management LLC acquired a new stake in shares of International Seaways in the 2nd quarter worth $207,000. Institutional investors and hedge funds own 85.79% of the company’s stock.

About International Seaways

(Get Rating)

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.

Featured Stories

Receive News & Ratings for International Seaways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways and related companies with MarketBeat.com's FREE daily email newsletter.