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

Key Points

• Analysts are broadly positive on International Seaways, with seven firms giving it an average rating of “Moderate Buy” and a consensus 12-month price target of $83.50.
• The company beat quarterly expectations, reporting EPS of $3.90 versus $2.87 expected and revenue of $325.48 million, up 77.5% year over year.
• International Seaways also announced a quarterly dividend of $0.12 per share, while recent insider sales and heavy institutional ownership signal active trading around the stock.

Shares of International Seaways Inc. (NYSE:INSW - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $83.50.

Several equities analysts have weighed in on INSW shares. Jefferies Financial Group reiterated a "buy" rating and issued a $100.00 target price on shares of International Seaways in a report on Friday. Zacks Research lowered shares of International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. BTIG Research upped their price objective on International Seaways from $80.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Weiss Ratings lowered International Seaways from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen raised International Seaways from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 13th.

International Seaways Stock Up 1.4%

Shares of INSW opened at $91.47 on Friday. International Seaways has a 52-week low of $35.60 and a 52-week high of $92.66. The company has a quick ratio of 3.71, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $74.69 and a two-hundred day simple moving average of $61.28. The company has a market capitalization of $4.53 billion, a PE ratio of 8.33 and a beta of -0.09.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm had revenue of $325.48 million for the quarter, compared to analysts' expectations of $279.34 million. During the same quarter in the previous year, the company posted $0.80 EPS. The company's revenue was up 77.5% compared to the same quarter last year. As a group, equities analysts forecast that International Seaways will post 13.6 EPS for the current year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given 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 is Friday, June 12th. International Seaways's dividend payout ratio (DPR) is presently 7.70%.

Insider Buying and Selling

In other news, SVP Derek G. Solon sold 6,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $75.41, for a total value of $452,460.00. Following the sale, the senior vice president directly owned 50,989 shares of the company's stock, valued at approximately $3,845,080.49. The trade was a 10.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $74.88, for a total transaction of $374,400.00. Following the completion of the transaction, the director owned 10,213 shares in the company, valued at approximately $764,749.44. This represents a 32.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,697 shares of company stock valued at $4,517,070 over the last three months. Company insiders own 2.00% of the company's stock.

Institutional Trading of International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSW. PNC Financial Services Group Inc. boosted its position in shares of 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. Dimensional Fund Advisors LP raised its holdings in shares of International Seaways by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company's stock valued at $220,436,000 after buying an additional 52,743 shares during the period. Parallel Advisors LLC lifted its stake in International Seaways by 85.0% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the transportation company's stock worth $80,000 after acquiring an additional 505 shares in the last quarter. Bessemer Group Inc. boosted its holdings in International Seaways by 45.3% during the 1st quarter. Bessemer Group Inc. now owns 102,940 shares of the transportation company's stock valued at $7,503,000 after acquiring an additional 32,073 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in International Seaways by 11.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,773 shares of the transportation company's stock valued at $1,212,000 after acquiring an additional 1,716 shares in 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.

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