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

Shares of International Seaways Inc. (NYSE:INSW) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $86.00.

A number of equities research analysts have recently issued reports on the stock. BTIG Research boosted their price target on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Jefferies Financial Group restated a “buy” rating and set a $100.00 price target on shares of International Seaways in a report on Friday, May 8th. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th.

International Seaways Stock Down 0.3%

INSW stock opened at $79.29 on Monday. International Seaways has a 52-week low of $36.03 and a 52-week high of $92.66. The company’s 50 day simple moving average is $82.51 and its 200-day simple moving average is $69.31. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The firm has a market capitalization of $3.93 billion, a P/E ratio of 7.22 and a beta of -0.12.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm’s revenue was up 77.5% compared to the same quarter last year. As a group, equities research analysts anticipate that International Seaways will post 14.99 EPS for the current year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, June 12th. International Seaways’s dividend payout ratio is currently 4.37%.

Insider Activity at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares in the company, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William F. Nugent sold 6,830 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.23, for a total transaction of $582,120.90. Following the completion of the transaction, the senior vice president owned 49,169 shares in the company, valued at approximately $4,190,673.87. This represents a 12.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,530 shares of company stock worth $3,923,635 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in International Seaways by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after buying an additional 118 shares during the period. Oregon Public Employees Retirement Fund increased its stake in International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after buying an additional 200 shares during the period. ProShare Advisors LLC grew its position in International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after acquiring an additional 241 shares in the last quarter. Guggenheim Capital LLC grew its position in International Seaways by 1.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock worth $959,000 after acquiring an additional 275 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in International Seaways by 16.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,074 shares of the transportation company’s stock worth $151,000 after acquiring an additional 292 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

About International Seaways

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.