International Seaways (NYSE:INSW) Sets New 12-Month High - Here's What Happened

Key Points

• New 52-week high: International Seaways hit an intraday 52-week high of $86.00 and was last quoted at $84.47 during the session, with roughly 1,263 shares traded.
• Analyst optimism: Multiple firms raised ratings and targets (BTIG to $90 buy, Deutsche Bank to $80 buy, Jefferies initiated at $90), leaving a consensus of "Moderate Buy" with an average target of $81 and five analysts rating the stock as Buy.
• Strong recent results and balance sheet: The company beat quarterly estimates with $2.45 EPS vs. $1.75 expected and revenue up 37.7% year‑over‑year to $267.9M, while reporting high margins, a quick ratio of 3.71 and a low debt‑to‑equity of 0.27; it also pays a modest annualized dividend (yield ~0.6%).

International Seaways Inc. (NYSE:INSW - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $86.00 and last traded at $84.47, with a volume of 1263 shares changing hands. The stock had previously closed at $85.14.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INSW. BTIG Research lifted their price objective on shares of International Seaways from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of International Seaways from $63.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, March 9th. Wall Street Zen upgraded shares of International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th. Benchmark restated a "buy" rating on shares of International Seaways in a research report on Thursday, February 26th. Finally, Jefferies Financial Group initiated coverage on shares of International Seaways in a research report on Friday, April 24th. They issued a "buy" rating and a $90.00 price target on the stock. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, International Seaways has a consensus rating of "Moderate Buy" and an average target price of $81.00.

International Seaways Price Performance

The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The firm's 50 day simple moving average is $73.49 and its 200 day simple moving average is $60.37. The company has a market capitalization of $4.20 billion, a PE ratio of 13.65 and a beta of -0.09.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating 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 net margin of 36.67% and a return on equity of 13.92%. The business's revenue was up 37.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. As a group, research analysts anticipate that International Seaways Inc. will post 9.73 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, March 20th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, March 20th. International Seaways's payout ratio is currently 7.70%.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $74.50, for a total transaction of $74,500.00. Following the completion of the sale, the chief financial officer directly owned 103,984 shares of the company's stock, valued at approximately $7,746,808. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randee E. Day sold 4,090 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $74.93, for a total transaction of $306,463.70. Following the sale, the director directly owned 18,435 shares of the company's stock, valued at $1,381,334.55. This represents a 18.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 60,697 shares of company stock valued at $4,517,070. Insiders own 2.00% of the company's stock.

Institutional Trading of International Seaways

Large investors have recently made changes to their positions in the stock. First Horizon Corp boosted its stake in shares of International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company's stock valued at $33,000 after purchasing an additional 377 shares during the period. Federated Hermes Inc. lifted its stake in International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company's stock worth $35,000 after acquiring an additional 378 shares during the period. Leonteq Securities AG purchased a new stake in International Seaways in the fourth quarter worth about $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in International Seaways in the fourth quarter worth about $46,000. Finally, Rockefeller Capital Management L.P. lifted its stake in International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock worth $47,000 after acquiring an additional 822 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.

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