International Seaways (NYSE:INSW) Hits New 52-Week High - Time to Buy?

Key Points

• International Seaways reached a new 52-week high, trading as high as $107.50, while analysts maintain a “Moderate Buy” consensus with an average price target of $94.75.
• The company reported strong quarterly results, with EPS of $5.91 beating estimates and revenue rising 138.9% year over year to $467.29 million.
• International Seaways announced a sharply increased annualized dividend of $20.20 per share, implying an 18.6% yield, though its 129.16% payout ratio may raise sustainability concerns.

International Seaways Inc. (NYSE:INSW - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $107.50 and last traded at $109.4010, with a volume of 47502 shares trading hands. The stock had previously closed at $105.84.

Analyst Upgrades and Downgrades

INSW has been the topic of several recent research reports. Zacks Research downgraded shares of International Seaways from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Jefferies Financial Group lifted their target price on shares of International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. BTIG Research boosted their price target on shares of International Seaways from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st. Finally, Pareto Securities downgraded shares of International Seaways from a "buy" rating to a "hold" rating in a report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, International Seaways currently has an average rating of "Moderate Buy" and an average price target of $94.75.

International Seaways Price Performance

The business has a fifty day moving average of $94.96 and a 200-day moving average of $84.23. The firm has a market cap of $5.37 billion, a PE ratio of 6.94, a PEG ratio of 0.27 and a beta of -0.13. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27.

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

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a dividend yield of 18.6%. This is an increase from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. International Seaways's dividend payout ratio (DPR) is 129.16%.

Insider Buying and Selling

In related news, CEO Lois 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 transaction, the chief executive officer owned 173,745 shares of the company's stock, valued at approximately $17,103,457.80. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INSW. EverSource Wealth Advisors LLC raised its holdings in International Seaways by 11.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company's stock valued at $85,000 after buying an additional 118 shares during the last quarter. Allworth Financial LP boosted its position in International Seaways by 23.4% during the 2nd quarter. Allworth Financial LP now owns 623 shares of the transportation company's stock valued at $48,000 after buying an additional 118 shares during the period. GAMMA Investing LLC grew its holdings in International Seaways by 4.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company's stock worth $353,000 after acquiring an additional 178 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of International Seaways by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company's stock valued at $452,000 after acquiring an additional 200 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company's stock valued at $380,000 after acquiring an additional 241 shares during the period. 67.29% of the stock is owned by institutional investors.

About International Seaways

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.

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