International Seaways (NYSE:INSW) Reaches New 1-Year High – Should You Buy?

International Seaways Inc. (NYSE:INSW)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $103.03 and last traded at $101.6710, with a volume of 100371 shares trading hands. The stock had previously closed at $101.19.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BTIG Research boosted their target price on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.00 price target on shares of International Seaways in a research report on Tuesday. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Finally, Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.75.

International Seaways Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The company has a 50 day simple moving average of $92.12 and a 200-day simple moving average of $82.53. The stock has a market cap of $5.16 billion, a P/E ratio of 6.67, a price-to-earnings-growth ratio of 0.26 and a beta of -0.13.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating the consensus estimate of $5.55 by $0.36. The firm had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The company’s revenue was up 138.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.02 EPS. On average, equities analysts expect that International Seaways Inc. will post 16.09 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $5.05 per share. The ex-dividend date is Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a yield of 19.4%. International Seaways’s dividend payout ratio (DPR) is 129.16%.

Insider Activity at International Seaways

In other news, CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the completion of the sale, the chief executive officer directly owned 173,745 shares in the company, valued at approximately $17,103,457.80. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction 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 $8,330,053.12. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,000 shares of company stock worth $441,240 over the last three months. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in International Seaways during the 2nd quarter worth approximately $28,000. Allworth Financial LP bought a new stake in International Seaways in the second quarter valued at approximately $48,000. Public Employees Retirement System of Ohio bought a new stake in International Seaways in the second quarter valued at approximately $66,000. Leonteq Securities AG purchased a new stake in shares of International Seaways during the fourth quarter valued at approximately $44,000. Finally, Compass Financial Management LLC purchased a new stake in shares of International Seaways during the second quarter valued at approximately $86,000. Institutional investors own 67.29% of the company’s stock.

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.