International Seaways Inc. (NYSE:INSW) Receives $68.00 Average Target Price from Analysts

International Seaways Inc. (NYSE:INSW) has received a consensus rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $68.00.

Several equities analysts have recently commented on the stock. Benchmark restated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft upped their price target on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Wall Street Zen upgraded International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd.

Insider Buying and Selling

In other news, Director Randee E. Day sold 4,090 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $74.93, for a total transaction of $306,463.70. Following the sale, the director owned 18,435 shares of the company’s stock, valued at approximately $1,381,334.55. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 9,583 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $76.00, for a total transaction of $728,308.00. Following the completion of the transaction, the senior vice president directly owned 52,572 shares of the company’s stock, valued at $3,995,472. This represents a 15.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,697 shares of company stock worth $4,459,450 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its stake in International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares in the last quarter. Fearnley Asset Management AS purchased a new position in shares of International Seaways in the 4th quarter valued at about $6,258,000. Invesco Ltd. boosted its stake in shares of International Seaways by 27.9% in the 4th quarter. Invesco Ltd. now owns 341,939 shares of the transportation company’s stock valued at $16,601,000 after buying an additional 74,635 shares during the period. Mackenzie Financial Corp grew its position in shares of International Seaways by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock worth $954,000 after buying an additional 5,783 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of International Seaways by 416.1% during the fourth quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock worth $525,000 after buying an additional 8,713 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Stock Up 3.4%

Shares of NYSE:INSW opened at $70.04 on Friday. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 11.24 and a beta of -0.23. International Seaways has a 12-month low of $27.20 and a 12-month high of $78.51. The business has a 50-day moving average price of $64.66 and a 200 day moving average price of $54.68. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The company had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. International Seaways’s revenue for the quarter was up 37.7% compared to the same quarter last year. Sell-side analysts expect that International Seaways will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, March 20th. International Seaways’s dividend payout ratio (DPR) is 7.70%.

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.