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

International Seaways, Inc. (NYSE:INSW – Get Rating) has been assigned an average rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $60.60.

A number of brokerages have weighed in on INSW. StockNews.com began coverage on International Seaways in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Stifel Nicolaus increased their price objective on International Seaways from $60.00 to $65.00 in a research report on Tuesday, April 25th. Jefferies Financial Group reiterated a “buy” rating and set a $64.00 price objective on shares of International Seaways in a research report on Tuesday, March 21st. B. Riley increased their price objective on International Seaways from $60.00 to $70.00 in a research report on Wednesday, March 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on International Seaways from $58.00 to $54.00 in a research report on Monday, May 8th.

Insiders Place Their Bets

In other International Seaways news, Director Douglas D. Wheat sold 17,400 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $52.06, for a total value of $905,844.00. Following the completion of the sale, the director now owns 45,104 shares in the company, valued at approximately $2,348,114.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $41.31, for a total value of $41,310.00. Following the completion of the transaction, the chief financial officer now owns 74,973 shares in the company, valued at approximately $3,097,134.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas D. Wheat sold 17,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $52.06, for a total value of $905,844.00. Following the completion of the transaction, the director now owns 45,104 shares of the company’s stock, valued at approximately $2,348,114.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,400 shares of company stock worth $2,021,494. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in INSW. Millennium Management LLC bought a new position in International Seaways during the 2nd quarter valued at approximately $17,047,000. Victory Capital Management Inc. increased its position in International Seaways by 159.2% during the 1st quarter. Victory Capital Management Inc. now owns 966,565 shares of the transportation company’s stock valued at $40,286,000 after buying an additional 593,683 shares in the last quarter. Dimensional Fund Advisors LP increased its position in International Seaways by 19.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,928,861 shares of the transportation company’s stock valued at $122,074,000 after buying an additional 466,627 shares in the last quarter. Two Sigma Advisers LP increased its position in International Seaways by 2,140.5% during the 4th quarter. Two Sigma Advisers LP now owns 485,049 shares of the transportation company’s stock valued at $17,957,000 after buying an additional 463,400 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in International Seaways by 193.3% during the 4th quarter. Two Sigma Investments LP now owns 672,103 shares of the transportation company’s stock valued at $24,881,000 after buying an additional 442,916 shares in the last quarter. Hedge funds and other institutional investors own 84.39% of the company’s stock.

International Seaways Stock Performance

NYSE:INSW opened at $38.45 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.47 and a current ratio of 2.47. International Seaways has a 52-week low of $17.89 and a 52-week high of $53.25. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 3.33 and a beta of 0.02. The business’s fifty day moving average is $40.17 and its 200 day moving average is $41.27.

International Seaways (NYSE:INSW – Get Rating) last released its quarterly earnings data on Friday, May 5th. The transportation company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.34. International Seaways had a return on equity of 39.81% and a net margin of 54.60%. The company had revenue of $287.13 million for the quarter, compared to analyst estimates of $277.30 million. Research analysts predict that International Seaways will post 9.87 EPS for the current year.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 16.85%. The ex-dividend date of this dividend is Tuesday, June 13th. International Seaways’s dividend payout ratio (DPR) is currently 4.16%.

About International Seaways

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.