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

Shares of International Seaways, Inc. (NYSE:INSW – Get Rating) have received a consensus rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $60.60.

Several equities research analysts recently weighed in on the company. StockNews.com assumed coverage on International Seaways in a report on Thursday, May 18th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft reduced their target price on International Seaways from $58.00 to $54.00 in a report on Monday, May 8th. B. Riley lifted their target price on International Seaways from $60.00 to $70.00 in a report on Wednesday, March 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $64.00 target price on shares of International Seaways in a report on Tuesday, March 21st. Finally, Stifel Nicolaus lifted their target price on International Seaways from $60.00 to $65.00 in a report on Tuesday, April 25th.

International Seaways Trading Down 1.9 %

Shares of INSW opened at $37.02 on Tuesday. The business has a 50-day moving average of $39.87 and a 200 day moving average of $41.17. International Seaways has a fifty-two week low of $17.89 and a fifty-two week high of $53.25. The firm has a market cap of $1.82 billion, a P/E ratio of 3.21 and a beta of 0.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.47 and a current ratio of 2.47.

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

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 14th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 13th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 17.50%. International Seaways’s dividend payout ratio (DPR) is presently 4.16%.

Insider Activity

In related news, Director David I. Greenberg sold 7,000 shares of the business’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 owns 24,272 shares in the company, valued at approximately $1,248,794.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other International Seaways news, Director David I. Greenberg sold 7,000 shares of the business’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 owns 24,272 shares in the company, valued at $1,248,794.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’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 owns 74,973 shares of the company’s stock, valued at approximately $3,097,134.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,400 shares of company stock worth $2,021,494. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Seaways

Several hedge funds have recently made changes to their positions in the business. Toroso Investments LLC increased its stake in shares of International Seaways by 5.2% during the first quarter. Toroso Investments LLC now owns 9,178 shares of the transportation company’s stock valued at $383,000 after buying an additional 455 shares during the period. Putnam Investments LLC increased its stake in shares of International Seaways by 84.8% during the first quarter. Putnam Investments LLC now owns 93,923 shares of the transportation company’s stock valued at $3,915,000 after buying an additional 43,111 shares during the period. Ameriprise Financial Inc. grew its stake in International Seaways by 12.0% in the first quarter. Ameriprise Financial Inc. now owns 10,094 shares of the transportation company’s stock worth $421,000 after purchasing an additional 1,082 shares during the period. JPMorgan Chase & Co. grew its stake in International Seaways by 9.1% in the first quarter. JPMorgan Chase & Co. now owns 58,858 shares of the transportation company’s stock worth $2,454,000 after purchasing an additional 4,886 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in International Seaways in the first quarter worth $531,000. 84.39% of the stock is owned by hedge funds and other 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.