Brokerages Set International Seaways Inc. (NYSE:INSW) Target Price at $60.67

Shares of International Seaways Inc. (NYSE:INSW) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $64.00.

Several brokerages have commented on INSW. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a report on Thursday. BTIG Research increased their price target on International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 20th. Finally, Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th.

International Seaways Stock Up 4.3%

Shares of INSW opened at $72.49 on Tuesday. International Seaways has a 12-month low of $27.20 and a 12-month high of $72.73. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.58 billion, a PE ratio of 16.51 and a beta of -0.19. The business’s 50 day moving average is $57.25 and its 200 day moving average is $51.26.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.70. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The firm had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. During the same quarter last year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 37.7% compared to the same quarter last year. Research analysts expect that International Seaways will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. International Seaways’s dividend payout ratio is presently 10.93%.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $63.29, for a total value of $63,290.00. Following the completion of the transaction, the chief financial officer owned 83,463 shares of the company’s stock, valued at approximately $5,282,373.27. This trade represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $48.56, for a total value of $97,120.00. Following the completion of the transaction, the chief executive officer owned 182,421 shares of the company’s stock, valued at approximately $8,858,363.76. This represents a 1.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,000 shares of company stock valued at $502,610 in the last quarter. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

Several institutional investors have recently modified their holdings of INSW. First Horizon Corp increased its position in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares during the last quarter. Federated Hermes Inc. lifted its position in International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after buying an additional 378 shares during the last quarter. Leonteq Securities AG purchased a new position in International Seaways during the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC bought a new position in International Seaways during the fourth quarter valued at $46,000. Finally, Founders Capital Management increased its position in International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

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.