International Seaways (NYSE:INSW) Hits New 1-Year High – Time to Buy?

International Seaways Inc. (NYSE:INSW)’s stock price reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $114.79 and last traded at $113.6920, with a volume of 93227 shares traded. The stock had previously closed at $110.24.

Analyst Ratings Changes

A number of equities research analysts recently commented on INSW shares. BTIG Research increased their price objective on shares of International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Jefferies Financial Group upped their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a report on Tuesday, September 1st. Finally, Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.25.

International Seaways Trading Up 0.5%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The business’s 50 day moving average price is $99.38 and its 200-day moving average price is $86.86. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 0.28 and a beta of -0.13.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The business had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. During the same period last year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was up 138.9% compared to the same quarter last year. Equities analysts expect that International Seaways Inc. will post 16.09 EPS for the current year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were given a dividend of $5.05 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $20.20 annualized dividend and a dividend yield of 18.2%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is currently 129.16%.

Insiders Place Their Bets

In other news, CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total transaction of $216,020.00. Following the completion of the transaction, the chief executive officer owned 171,745 shares of the company’s stock, valued at approximately $18,550,177.45. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of International Seaways

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in International Seaways in the second quarter worth approximately $505,153,000. Dimensional Fund Advisors LP lifted its holdings in shares of International Seaways by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock valued at $220,436,000 after purchasing an additional 52,743 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after purchasing an additional 380,931 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of International Seaways by 7.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company’s stock valued at $20,133,000 after purchasing an additional 27,818 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in International Seaways in the 2nd quarter worth about $21,082,000. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.