Zacks: International Seaways Inc. (INSW) Given Consensus Rating of “” by Brokerages
International Seaways Inc. (NYSE:INSW) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus target price of $27.33 for the company and are expecting that the company will post $0.15 EPS for the current quarter, according to Zacks. Zacks has also assigned International Seaways an industry rank of 193 out of 265 based on the ratings given to related companies.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised International Seaways from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday. J P Morgan Chase & Co assumed coverage on International Seaways in a report on Tuesday, June 13th. They set an “overweight” rating and a $30.00 target price on the stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its position in shares of International Seaways by 61.7% in the second quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock worth $138,000 after buying an additional 2,424 shares in the last quarter. Rhumbline Advisers raised its position in shares of International Seaways by 105.2% in the second quarter. Rhumbline Advisers now owns 33,878 shares of the transportation company’s stock worth $734,000 after buying an additional 17,369 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of International Seaways by 85.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,098 shares of the transportation company’s stock worth $1,173,000 after buying an additional 25,000 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of International Seaways during the second quarter worth approximately $1,853,000. Finally, Bank of New York Mellon Corp raised its position in shares of International Seaways by 74.4% in the second quarter. Bank of New York Mellon Corp now owns 132,538 shares of the transportation company’s stock worth $2,871,000 after buying an additional 56,562 shares in the last quarter. 85.67% of the stock is currently owned by hedge funds and other institutional investors.
International Seaways (NYSE:INSW) opened at 22.02 on Friday. The company has a 50-day moving average price of $21.90 and a 200-day moving average price of $19.77. The firm’s market cap is $643.18 million. International Seaways has a 12-month low of $9.00 and a 12-month high of $23.43.
International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, May 10th. The transportation company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $84.10 million during the quarter, compared to analyst estimates of $85 million. The company’s revenue for the quarter was down 32.6% compared to the same quarter last year. On average, analysts predict that International Seaways will post $1.22 earnings per share for the current year.
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International Seaways Company Profile
International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.
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