International Seaways Inc. (NYSE:INSW) Stock Has Consensus Target Price of $109.80

by · The Cerbat Gem

Shares of International Seaways Inc. (NYSE:INSW – Get Free Report) have been given a consensus recommendation of “Buy” by the eight research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $109.80.

INSW has been the topic of a number of research reports. BTIG Research increased their price objective on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Weiss Ratings raised shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered International Seaways from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Jefferies Financial Group boosted their price target on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st.

Get Our Latest Stock Analysis on INSW

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $114.23, for a total value of $228,460.00. Following the transaction, the chief executive officer owned 169,745 shares of the company’s stock, valued at $19,389,971.35. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Finance Ltd Famatown sold 64,821 shares of the business’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $125.05, for a total transaction of $8,105,866.05. Following the completion of the sale, the insider owned 6,500,566 shares of the company’s stock, valued at $812,895,778.30. The trade was a 0.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 655,028 shares of company stock valued at $76,362,341 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INSW. BlackRock Inc. acquired a new position in shares of International Seaways during the second quarter valued at about $505,153,000. Dimensional Fund Advisors LP lifted its stake 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 buying an additional 52,743 shares during the period. Arrowstreet Capital Limited Partnership grew its position in 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 in the last quarter. Bank of New York Mellon Corp acquired a new stake in International Seaways during the second quarter worth about $21,082,000. Finally, Empowered Funds LLC acquired a new stake in International Seaways during the second quarter worth about $19,711,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Trading Down 0.6%

International Seaways stock opened at $105.00 on Friday. International Seaways has a 12 month low of $46.09 and a 12 month high of $126.27. 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 stock has a market cap of $5.20 billion, a P/E ratio of 7.88, a P/E/G ratio of 0.28 and a beta of -0.10. The company’s fifty day simple moving average is $108.70 and its 200-day simple moving average is $85.96.

International Seaways (NYSE:INSW – Get Free Report) last issued its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share 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 company had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. During the same period in the prior year, the firm posted $1.02 EPS. The business’s revenue was up 138.9% compared to the same quarter last year. As a group, sell-side analysts forecast that International Seaways will post 17.47 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a dividend yield of 19.2%. The ex-dividend date of this dividend was Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 129.16%.

International Seaways Company Profile

(Get Free Report)

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.

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