International Seaways Inc. (NYSE:INSW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

International Seaways Inc. (NYSE:INSW) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $86.00.

A number of research analysts have recently commented on INSW shares. Zacks Research cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Jefferies Financial Group restated a “buy” rating and issued a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. Finally, Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th.

International Seaways Price Performance

Shares of INSW stock opened at $91.48 on Friday. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. International Seaways has a twelve month low of $39.06 and a twelve month high of $92.66. The company has a market cap of $4.53 billion, a P/E ratio of 8.33 and a beta of -0.12. The business has a fifty day simple moving average of $83.60 and a 200 day simple moving average of $74.25.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. During the same period last year, the firm posted $0.80 earnings per share. International Seaways’s revenue was up 77.5% compared to the same quarter last year. On average, sell-side analysts forecast that International Seaways will post 15.62 EPS for the current fiscal year.

International Seaways Dividend Announcement

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

Insider Transactions at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 4,700 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the transaction, the senior vice president owned 49,719 shares of the company’s stock, valued at $4,435,929.18. This represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways 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 sale, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. The trade was a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 42,530 shares of company stock worth $3,699,995. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its position in International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after acquiring an additional 380,931 shares during the period. Amundi acquired a new position in shares of International Seaways during the fourth quarter worth $13,663,000. Acorn Financial Advisory Services Inc. ADV acquired a new position in shares of International Seaways during the first quarter worth $13,145,000. Tudor Investment Corp ET AL bought a new stake in shares of International Seaways in the fourth quarter worth $7,087,000. Finally, Frontier Capital Management Co. LLC grew its stake in shares of International Seaways by 105.2% in the second quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock worth $9,864,000 after purchasing an additional 138,625 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.