Brokerages Set International Seaways Inc. (NYSE:INSW) PT at $88.00

Shares of International Seaways Inc. (NYSE:INSW) have earned an average recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $88.00.

A number of equities research analysts have commented on the company. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. BTIG Research upped their price target on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Jefferies Financial Group increased their price target on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. Finally, Pareto Securities downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th.

International Seaways Stock Performance

NYSE INSW opened at $99.89 on Tuesday. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $89.37 and its two-hundred day moving average is $80.23. International Seaways has a 12-month low of $42.26 and a 12-month high of $102.36. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 6.39 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, beating the consensus estimate 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 analysts’ expectations of $406.38 million. During the same period last year, the firm earned $1.02 EPS. The company’s quarterly revenue was up 138.9% compared to the same quarter last year. Research analysts expect that International Seaways will post 15.89 EPS for the current year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a yield of 20.2%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 10th. International Seaways’s dividend payout ratio is 3.07%.

Insider Activity at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer owned 101,984 shares of the company’s stock, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $98.44, for a total value of $196,880.00. Following the completion of the sale, the chief executive officer owned 173,745 shares in the company, valued at approximately $17,103,457.80. This represents a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,000 shares of company stock worth $441,240 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of International Seaways

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of 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 buying an additional 2,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of International Seaways by 3.9% in the 1st 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 boosted its position in shares of International Seaways by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after buying an additional 18,509 shares in the last quarter. Prudential Financial Inc. acquired a new stake in International Seaways in the 2nd quarter valued at about $223,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in International Seaways in the 2nd quarter valued at about $1,626,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.