International Seaways Inc. (NYSE:INSW) Receives $86.00 Average PT from Analysts

International Seaways Inc. (NYSE:INSW) has been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $86.00.

INSW has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price objective on shares of International Seaways in a research report on Friday, May 8th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft raised their price target on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, BTIG Research increased their price objective on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th.

International Seaways Trading Down 0.1%

Shares of International Seaways stock opened at $82.35 on Monday. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 7.50 and a beta of -0.12. International Seaways has a fifty-two week low of $37.72 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. The stock has a 50 day moving average of $82.82 and a 200 day moving average of $70.38.

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

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, June 12th. International Seaways’s dividend payout ratio is 4.37%.

Insider Activity at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 approximately $8,330,053.12. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the sale, the chief executive officer owned 181,745 shares of the company’s stock, valued at $16,008,099.60. This represents a 12.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 45,530 shares of company stock valued at $3,923,635. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its position in shares of International Seaways by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after purchasing an additional 118 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in International Seaways by 2.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after buying an additional 200 shares during the last quarter. ProShare Advisors LLC grew its stake in International Seaways by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after buying an additional 241 shares during the last quarter. Guggenheim Capital LLC increased its position in International Seaways by 1.4% during the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock worth $959,000 after buying an additional 275 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in International Seaways by 16.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,074 shares of the transportation company’s stock worth $151,000 after buying an additional 292 shares during the period. 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.