International Seaways (NYSE:INSW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of International Seaways (NYSE:INSW) from a hold rating to a buy rating in a report published on Saturday.

Several other research analysts also recently weighed in on INSW. BTIG Research upped their price target on International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Benchmark reiterated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. Finally, Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $68.00.

International Seaways Price Performance

NYSE:INSW opened at $75.93 on Friday. The business’s 50-day simple moving average is $60.94 and its two-hundred day simple moving average is $52.99. International Seaways has a 52 week low of $27.20 and a 52 week high of $78.51. The stock has a market cap of $3.75 billion, a PE ratio of 12.19 and a beta of -0.23. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. The firm had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The business’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, analysts forecast that International Seaways will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 20th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, March 20th. International Seaways’s dividend payout ratio is currently 7.70%.

Insider Transactions at International Seaways

In related news, Director Randee E. Day sold 2,635 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $75.40, for a total value of $198,679.00. Following the completion of the transaction, the director owned 22,525 shares of the company’s stock, valued at approximately $1,698,385. This trade represents a 10.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 9,583 shares of International Seaways stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $76.00, for a total value of $728,308.00. Following the completion of the transaction, the senior vice president owned 52,572 shares of the company’s stock, valued at approximately $3,995,472. This represents a 15.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,218 shares of company stock worth $3,692,217 in the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently modified their holdings of INSW. First Horizon Corp raised its holdings in International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after buying an additional 377 shares during the period. Federated Hermes Inc. boosted its stake in International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after buying an additional 378 shares during the period. Leonteq Securities AG purchased a new position in International Seaways during the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC bought a new position in International Seaways during the fourth quarter valued at $46,000. Finally, Founders Capital Management increased its position in International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other 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.