Brokerages Set International Seaways, Inc. (NYSE:INSW) PT at $60.60

International Seaways, Inc. (NYSE:INSW – Get Rating) has been given an average rating of “Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $60.60.

A number of analysts have commented on the company. B. Riley upped their price target on International Seaways from $60.00 to $70.00 in a research report on Wednesday, March 1st. Stifel Nicolaus upped their price target on International Seaways from $60.00 to $65.00 in a research report on Tuesday, April 25th. Jefferies Financial Group restated a “buy” rating and issued a $64.00 price target on shares of International Seaways in a research report on Tuesday, March 21st. Deutsche Bank Aktiengesellschaft cut their target price on International Seaways from $58.00 to $54.00 in a research report on Monday, May 8th. Finally, StockNews.com started coverage on International Seaways in a research report on Thursday, May 18th. They set a “buy” rating for the company.

International Seaways Stock Down 1.9 %

INSW stock opened at $37.02 on Tuesday. International Seaways has a fifty-two week low of $17.89 and a fifty-two week high of $53.25. The business’s 50-day moving average is $39.87 and its two-hundred day moving average is $41.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.47 and a current ratio of 2.47. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 3.21 and a beta of 0.02.

International Seaways (NYSE:INSW – Get Rating) last posted its earnings results on Friday, May 5th. The transportation company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.96 by $0.34. The company had revenue of $287.13 million for the quarter, compared to the consensus estimate of $277.30 million. International Seaways had a return on equity of 39.81% and a net margin of 54.60%. As a group, analysts forecast that International Seaways will post 9.87 earnings per share for the current year.

International Seaways Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 17.50%. The ex-dividend date of this dividend is Tuesday, June 13th. International Seaways’s dividend payout ratio is presently 4.16%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $41.31, for a total transaction of $41,310.00. Following the completion of the transaction, the chief financial officer now owns 74,973 shares in the company, valued at approximately $3,097,134.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director David I. Greenberg sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $51.45, for a total value of $360,150.00. Following the completion of the sale, the director now directly owns 24,272 shares of the company’s stock, valued at approximately $1,248,794.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $41.31, for a total value of $41,310.00. Following the completion of the sale, the chief financial officer now directly owns 74,973 shares of the company’s stock, valued at $3,097,134.63. The disclosure for this sale can be found here. Insiders sold 41,400 shares of company stock worth $2,021,494 in the last quarter. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new stake in shares of International Seaways during the 3rd quarter worth approximately $28,000. Point72 Hong Kong Ltd bought a new stake in International Seaways during the 3rd quarter valued at $45,000. Coppell Advisory Solutions Corp. bought a new stake in International Seaways during the 4th quarter valued at $46,000. Compagnie Lombard Odier SCmA bought a new stake in International Seaways during the 1st quarter valued at $58,000. Finally, Spire Wealth Management raised its position in International Seaways by 33.6% during the 1st quarter. Spire Wealth Management now owns 1,392 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 350 shares in the last quarter. 84.39% of the stock is owned by institutional investors.

International Seaways Company Profile

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.