International Seaways (NYSE:INSW) Hits New 1-Year High - Should You Buy?

Key Points

• International Seaways reached a new 52-week high of $120, with shares last trading around $116.60. Analysts maintain a “Moderate Buy” consensus, with six Buy ratings and an average price target of $109.80.
• The company reported strong quarterly results, earning $5.91 per share versus the $5.55 estimate and generating $467.29 million in revenue, up 138.9% year over year.
• International Seaways increased its quarterly dividend to $5.05 per share, implying a 17.3% annualized yield, though its payout ratio is elevated at 129.16%.

International Seaways Inc. (NYSE:INSW - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $120.00 and last traded at $116.6030, with a volume of 1086926 shares traded. The stock had previously closed at $115.81.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INSW shares. BTIG Research boosted their price target on shares of International Seaways from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, September 18th. B. Riley Financial raised their price objective on shares of International Seaways from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Monday. Zacks Research cut shares of International Seaways from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 24th. Jefferies Financial Group boosted their target price on International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, International Seaways presently has a consensus rating of "Moderate Buy" and an average price target of $109.80.

International Seaways Stock Up 0.7%

The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 0.30 and a beta of -0.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The firm's 50-day simple moving average is $101.25 and its two-hundred day simple moving average is $88.18.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.55 by $0.36. The company had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. International Seaways's quarterly revenue was up 138.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 earnings per share. On average, sell-side analysts expect that International Seaways Inc. will post 16.09 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a dividend of $5.05 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $20.20 annualized dividend and a yield of 17.3%. This is a positive change from International Seaways's previous quarterly dividend of $0.12. International Seaways's dividend payout ratio (DPR) is currently 129.16%.

Insider Buying and Selling

In other news, CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $108.01, for a total value of $216,020.00. Following the completion of the sale, the chief executive officer directly owned 171,745 shares of the company's stock, valued at approximately $18,550,177.45. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in International Seaways in the second quarter worth $505,153,000. Dimensional Fund Advisors LP lifted its holdings in shares of International Seaways by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company's stock valued at $220,436,000 after purchasing an additional 52,743 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of International Seaways by 167.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock worth $44,330,000 after buying an additional 380,931 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of International Seaways by 7.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 414,688 shares of the transportation company's stock worth $20,133,000 after buying an additional 27,818 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of International Seaways during the second quarter worth about $21,082,000. Institutional investors and hedge funds own 67.29% of the company's stock.

International Seaways Company Profile

International Seaways, Inc NYSE: INSW is a maritime transportation company that owns and operates oceangoing tankers. The company transports crude oil, refined petroleum products and other liquid cargoes for energy producers, commodity traders, refiners and other customers worldwide.

Its fleet includes crude-oil tankers serving major international trade routes, as well as product tankers used to move gasoline, diesel, jet fuel and other refined petroleum products. International Seaways employs a combination of time-charter, voyage-charter and pool arrangements to market its vessels and provide transportation services.

International Seaways was established in 2016 through the separation of the international tanker business from Overseas Shipholding Group.

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