International Seaways Inc. (NYSE:INSW) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Five of seven brokerages rate International Seaways a “buy,” while two recommend holding the stock. The average 12-month price target is $94.75.
• International Seaways reported quarterly EPS of $5.91, exceeding the $5.55 consensus estimate, while revenue rose 138.9% year over year to $467.29 million.
• The company declared a sharply increased quarterly dividend of $5.05 per share, equivalent to a 19.5% indicated yield, although its payout ratio stands above 100%.

Shares of International Seaways Inc. (NYSE:INSW - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $94.75.

INSW has been the subject of several recent analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of International Seaways in a report on Friday, August 7th. Zacks Research downgraded International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. BTIG Research boosted their price objective on 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 upped their target price on International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Pareto Securities downgraded International Seaways from a "buy" rating to a "hold" rating in a research note on Monday, May 18th.

International Seaways Stock Up 1.4%

International Seaways stock opened at $103.59 on Friday. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 6.62, a price-to-earnings-growth ratio of 0.26 and a beta of -0.13. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. The business's 50-day moving average price is $94.55 and its 200 day moving average price is $83.86. International Seaways has a 52 week low of $42.26 and a 52 week high of $106.73.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping analysts' consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The business had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The company's revenue was up 138.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Seaways will post 16.09 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $5.05 dividend. This is an increase from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. This represents a $20.20 annualized dividend and a yield of 19.5%. International Seaways's payout ratio is presently 129.16%.

Insider Activity

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the sale, the chief executive officer directly owned 173,745 shares in the company, valued at $17,103,457.80. This trade represents a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,000 shares of company stock worth $441,240. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently made changes to their positions in INSW. Quantbot Technologies LP acquired a new position in International Seaways during the second quarter worth $28,000. Allworth Financial LP purchased a new position in International Seaways during the 2nd quarter valued at about $48,000. Public Employees Retirement System of Ohio acquired a new position in International Seaways in the 2nd quarter valued at about $66,000. Leonteq Securities AG acquired a new position in International Seaways in the 4th quarter valued at about $44,000. Finally, Compass Financial Management LLC acquired a new position in International Seaways in the 2nd quarter valued at about $86,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

International Seaways Company Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company's vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.