Shares of International Seaways, Inc. (NYSE:INSW) have been assigned an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $26.00.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of International Seaways from a “sell” rating to a “hold” rating in a research report on Tuesday, March 30th. TheStreet lowered shares of International Seaways from a “c” rating to a “d+” rating in a research note on Wednesday, April 7th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of International Seaways in a research note on Friday, April 9th. Finally, Jefferies Financial Group lifted their price objective on shares of International Seaways from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, March 18th.
Hedge funds have recently made changes to their positions in the business. Founders Capital Management bought a new stake in International Seaways during the 4th quarter valued at $35,000. Meeder Asset Management Inc. bought a new stake in International Seaways during the 1st quarter valued at $49,000. SG Americas Securities LLC bought a new stake in International Seaways during the 4th quarter valued at $101,000. IHT Wealth Management LLC bought a new stake in International Seaways during the 4th quarter valued at $166,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of International Seaways by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,251 shares of the transportation company’s stock worth $233,000 after acquiring an additional 1,108 shares in the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.
International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, March 11th. The transportation company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.29). The firm had revenue of $56.70 million during the quarter, compared to analyst estimates of $65.47 million. International Seaways had a return on equity of 16.95% and a net margin of 26.02%. Analysts forecast that International Seaways will post 4.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Thursday, March 11th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 1.29%. International Seaways’s dividend payout ratio (DPR) is presently 39.34%.
About International Seaways
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trade. It operates through two segments, Crude Tankers and Product Carriers. As of March 12, 2021, the company owned and operated a fleet of 36 vessels, including 11 very large crude carriers, 2 Suezmaxes, 4 Aframaxes/LR2s, 13 Panamaxes/LR1s, and 4 medium range tankers, as well as had ownership interests in two floating storage and offloading service vessels.
Further Reading: Market Capitalization
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