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

International Seaways Inc. (NYSE:INSW) has been given a consensus rating of “Buy” by the seven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $88.00.

INSW has been the topic of a number of analyst reports. Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. BTIG Research raised their target price on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Jefferies Financial Group boosted their price target on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th.

International Seaways Stock Performance

NYSE:INSW opened at $97.97 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. International Seaways has a fifty-two week low of $41.25 and a fifty-two week high of $99.43. The firm has a market cap of $4.85 billion, a PE ratio of 6.26 and a beta of -0.13. The business has a 50 day moving average price of $87.63 and a 200-day moving average price of $78.85.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. The company had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm’s revenue was up 138.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 EPS. Equities research analysts predict that International Seaways will post 15.89 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $5.05 dividend. The ex-dividend date is Thursday, September 10th. This represents a $20.20 dividend on an annualized basis and a dividend yield of 20.6%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is 3.07%.

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.34, for a total value of $162,680.00. Following the completion of the sale, the chief executive officer owned 177,745 shares of the company’s stock, valued at $14,457,778.30. This trade represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways 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 owned 101,984 shares in the company, valued at approximately $8,330,053.12. This trade represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of International Seaways by 42.0% in the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after purchasing an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of International Seaways by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock valued at $800,000 after buying an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of International Seaways by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock valued at $4,264,000 after buying an additional 18,509 shares during the period. Prudential Financial Inc. bought a new position in International Seaways in the second quarter worth about $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in International Seaways in the second quarter worth about $1,626,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.