International Seaways Inc. (NYSE:INSW) Receives $86.00 Consensus Price Target from Brokerages

Shares of International Seaways Inc. (NYSE:INSW) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $86.00.

A number of research firms have recently weighed in on INSW. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price target on shares of International Seaways in a research report on Friday, May 8th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, BTIG Research raised their price objective on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th.

Insider Activity

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the sale, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William F. Nugent sold 6,830 shares of the company’s 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 sale, the senior vice president directly owned 49,169 shares of the company’s stock, valued at $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 sold 42,530 shares of company stock valued at $3,699,995 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On International Seaways

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

International Seaways Trading Up 0.0%

INSW opened at $92.28 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. International Seaways has a fifty-two week low of $39.06 and a fifty-two week high of $93.48. The firm has a market capitalization of $4.57 billion, a PE ratio of 8.40 and a beta of -0.12. The company’s 50-day moving average is $83.75 and its 200 day moving average is $74.57.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The business had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company’s quarterly revenue was up 77.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, research analysts predict that International Seaways will post 15.62 earnings per share for the current fiscal year.

International Seaways Announces Dividend

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

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.