International Seaways (NYSE:INSW) Reaches New 1-Year High - Still a Buy?

Key Points

• International Seaways reached a new 52-week high of $103.03, with the stock last trading near $101.67. Analysts maintain a “Moderate Buy” consensus, though the average price target of $94.75 is below the current price.
• The tanker company reported quarterly EPS of $5.91, beating estimates of $5.55, while revenue rose 138.9% year over year to $467.29 million. Its net margin was 61.98% and return on equity was 31.75%.
• International Seaways announced a sharply increased quarterly dividend of $5.05, equivalent to an annualized $20.20 payout and a stated 19.9% yield. Meanwhile, insiders have sold 5,000 shares over the past 90 days, while institutional investors own 67.29% of the stock.

International Seaways Inc. (NYSE:INSW - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $103.03 and last traded at $101.6710, with a volume of 100371 shares trading hands. The stock had previously closed at $101.19.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INSW. Weiss Ratings restated a "buy (b-)" rating on shares of International Seaways in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $107.00 price objective on shares of International Seaways in a report on Tuesday. Zacks Research downgraded International Seaways from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Pareto Securities lowered International Seaways from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Finally, BTIG Research upped their price target on International Seaways from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.75.

International Seaways Price Performance

The company has a market capitalization of $5.02 billion, a P/E ratio of 6.49 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 has a 50 day simple moving average of $91.21 and a 200-day simple moving average of $82.10.

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 (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.36. The business had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The business's revenue was up 138.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share. Analysts predict that International Seaways Inc. will post 16.09 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders 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 yield of 19.9%. This is a positive change from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. International Seaways's payout ratio is currently 3.07%.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at approximately $8,330,053.12. This trade represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, August 17th. The stock was 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 directly owned 173,745 shares in the company, valued at $17,103,457.80. This represents a 1.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,000 shares of company stock valued at $441,240. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in International Seaways during the second quarter worth approximately $28,000. Allworth Financial LP bought a new position in shares of International Seaways during the 2nd quarter worth about $48,000. Public Employees Retirement System of Ohio bought a new stake in shares of International Seaways during the second quarter valued at approximately $66,000. Leonteq Securities AG acquired a new stake in International Seaways during the fourth quarter worth $44,000. Finally, Compass Financial Management LLC acquired a new position in shares of International Seaways in the 2nd quarter valued at $86,000. 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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