International Seaways (NYSE:INSW) Hits New 12-Month High – What’s Next?

International Seaways Inc. (NYSE:INSW) reached a new 52-week high on Tuesday . The stock traded as high as $107.50 and last traded at $109.4010, with a volume of 47502 shares trading hands. The stock had previously closed at $105.84.

Analyst Ratings Changes

Several analysts have recently issued reports on INSW shares. BTIG Research upped their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.00 target price on shares of International Seaways in a report on Tuesday, September 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a report 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 report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

International Seaways Price Performance

The company has a market capitalization of $5.42 billion, a P/E ratio of 7.00, a PEG ratio of 0.28 and a beta of -0.13. The stock’s fifty day simple moving average is $95.83 and its 200-day simple moving average is $84.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76.

International Seaways (NYSE:INSW) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $406.38 million. During the same period in the previous year, the company posted $1.02 earnings per share. The firm’s revenue for the quarter was up 138.9% on a year-over-year basis. On average, equities analysts forecast that International Seaways Inc. will post 16.09 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $5.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $20.20 annualized dividend and a yield of 18.5%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is presently 129.16%.

Insider Activity

In related 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 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 is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in shares of International Seaways in the second quarter valued at about $28,000. Allworth Financial LP bought a new position in International Seaways during the second quarter valued at about $48,000. Public Employees Retirement System of Ohio acquired a new position in International Seaways in the 2nd quarter valued at approximately $66,000. Leonteq Securities AG bought a new stake in shares of International Seaways in the 4th quarter worth approximately $44,000. Finally, Compass Financial Management LLC bought a new stake in shares of International Seaways in the 2nd quarter worth approximately $86,000. 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.