International Seaways (NYSE:INSW) Reaches New 1-Year High – Still a Buy?

Shares of International Seaways Inc. (NYSE:INSW) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $103.03 and last traded at $101.6710, with a volume of 100371 shares trading hands. The stock had previously closed at $101.19.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BTIG Research increased their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.00 target price on shares of International Seaways in a research report on Tuesday. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. Finally, Jefferies Financial Group lifted their price target on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and an average price target of $94.75.

International Seaways Trading Up 0.2%

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 stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 6.49 and a beta of -0.13. The business has a fifty day simple moving average of $91.21 and a 200 day simple moving average of $82.10.

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

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $5.05 dividend. The ex-dividend date is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 19.9%. International Seaways’s dividend payout ratio (DPR) is presently 3.07%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the transaction, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at approximately $17,103,457.80. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,000 shares of company stock valued at $441,240. Insiders own 1.70% of the company’s stock.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock valued at $311,000 after acquiring an additional 2,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in International Seaways by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after buying an additional 900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in International Seaways by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock valued at $4,264,000 after acquiring an additional 18,509 shares during the last quarter. Prudential Financial Inc. bought a new position in International Seaways during the second quarter valued at approximately $223,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of International Seaways during the second quarter worth approximately $1,626,000. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

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.