International Seaways (NYSE:INSW) Hits New 1-Year High – Time to Buy?

International Seaways Inc. (NYSE:INSW) shares hit a new 52-week high on Friday . The stock traded as high as $92.85 and last traded at $92.3360, with a volume of 46941 shares changing hands. The stock had previously closed at $91.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Finally, 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 report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.00.

International Seaways Stock Up 0.8%

The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The company has a market cap of $4.56 billion, a PE ratio of 8.40 and a beta of -0.12. The company has a fifty day moving average price of $83.60 and a 200 day moving average price of $74.25.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. During the same period last year, the firm posted $0.80 earnings per share. International Seaways’s quarterly revenue was up 77.5% on a year-over-year basis. As a group, analysts anticipate that International Seaways Inc. will post 15.62 EPS for the current year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, June 12th. International Seaways’s payout ratio is currently 4.37%.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 25,000 shares of International Seaways stock in a transaction dated 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 completion of the sale, the chief executive officer owned 181,745 shares of the company’s stock, valued at $16,008,099.60. The trade was a 12.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the sale, the chief financial officer directly 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,530 shares of company stock valued at $3,699,995 over the last ninety days. 1.70% of the stock is currently owned by insiders.

Institutional Trading of International Seaways

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