International Seaways Inc. (NYSE:INSW) Given Consensus Rating of “Buy” by Brokerages

Shares of International Seaways Inc. (NYSE:INSW) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $83.50.

INSW has been the topic of several recent research reports. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price objective on shares of International Seaways in a report on Friday, May 8th. Benchmark reissued a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Finally, Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th.

International Seaways Trading Up 1.9%

Shares of INSW stock opened at $82.74 on Thursday. The stock’s fifty day moving average price is $80.26 and its two-hundred day moving average price is $66.68. The company has a market cap of $4.10 billion, a PE ratio of 7.54 and a beta of -0.12. International Seaways has a fifty-two week low of $36.03 and a fifty-two week high of $92.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34.

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

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. International Seaways’s dividend payout ratio (DPR) is 4.37%.

Insider Transactions at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $84.23, for a total transaction of $168,460.00. Following the sale, the chief executive officer owned 179,745 shares of the company’s stock, valued at $15,139,921.35. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 4,700 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total value of $419,334.00. Following the transaction, the senior vice president directly owned 49,719 shares of the company’s stock, valued at approximately $4,435,929.18. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 45,530 shares of company stock worth $3,881,355. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. First Horizon Corp raised its position in International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after purchasing an additional 377 shares during the last quarter. Federated Hermes Inc. raised its position in International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after purchasing an additional 378 shares during the last quarter. Leonteq Securities AG bought a new position in International Seaways during the 4th quarter worth $44,000. Garton & Associates Financial Advisors LLC bought a new position in International Seaways during the 4th quarter worth $46,000. Finally, Rockefeller Capital Management L.P. raised its position in International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

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.