Zacks: International Seaways Inc. (INSW) Given Consensus Rating of “Strong Buy” by Analysts
International Seaways Inc. (NYSE:INSW) has received a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price target of $27.33 for the company and are predicting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also given International Seaways an industry rank of 188 out of 265 based on the ratings given to related companies.
INSW has been the topic of several research analyst reports. Zacks Investment Research raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, August 8th. J P Morgan Chase & Co began coverage on shares of International Seaways in a research report on Tuesday, June 13th. They set an “overweight” rating and a $30.00 price target on the stock.
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Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in International Seaways by 25.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 436,665 shares of the transportation company’s stock worth $9,463,000 after purchasing an additional 88,302 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of International Seaways in the 2nd quarter valued at $1,853,000. TIAA CREF Investment Management LLC increased its stake in shares of International Seaways by 33.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 119,918 shares of the transportation company’s stock valued at $2,599,000 after acquiring an additional 29,844 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of International Seaways by 27.5% in the 2nd quarter. Teachers Advisors LLC now owns 73,779 shares of the transportation company’s stock valued at $1,599,000 after acquiring an additional 15,925 shares in the last quarter. Finally, AJO LP bought a new stake in shares of International Seaways in the 2nd quarter valued at $414,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.
International Seaways (NYSE:INSW) traded down 0.77% during midday trading on Friday, reaching $17.99. 229,917 shares of the company’s stock were exchanged. International Seaways has a 1-year low of $9.00 and a 1-year high of $23.43. The firm’s 50-day moving average is $20.48 and its 200 day moving average is $20.06. The stock’s market cap is $526.17 million.
International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, August 9th. The transportation company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.55. International Seaways had a positive return on equity of 0.91% and a negative net margin of 31.22%. The business had revenue of $71.90 million for the quarter, compared to analyst estimates of $73 million. The business’s revenue for the quarter was down 30.3% compared to the same quarter last year. Equities analysts anticipate that International Seaways will post $0.95 earnings per share for the current fiscal year.
About International Seaways
International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.
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