International Seaways (NYSE:INSW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of International Seaways (NYSE:INSW – Free Report) from a buy rating to a strong-buy rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on INSW. BTIG Research upped 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. Jefferies Financial Group raised their price objective on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.00 target price on shares of International Seaways in a research report on Tuesday, September 1st. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Finally, B. Riley Financial upped their target price on International Seaways from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, International Seaways has an average rating of “Moderate Buy” and a consensus target price of $109.80.

Get Our Latest Report on INSW

International Seaways Stock Performance

International Seaways stock opened at $96.15 on Friday. International Seaways has a fifty-two week low of $46.09 and a fifty-two week high of $126.27. 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 stock has a market cap of $4.76 billion, a P/E ratio of 7.41, a price-to-earnings-growth ratio of 0.26 and a beta of -0.10. The firm’s fifty day moving average price is $108.63 and its 200-day moving average price is $86.77.

International Seaways (NYSE:INSW – Get Free Report) last announced its earnings results on Thursday, November 5th. The transportation company reported $5.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.09 by ($0.25). The company had revenue of $483.20 million during the quarter, compared to analysts’ expectations of $349.50 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The firm’s revenue was up 146.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. On average, equities research analysts expect that International Seaways will post 22.29 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Wednesday, December 9th will be paid a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a dividend yield of 21.0%. The ex-dividend date of this dividend is Wednesday, December 9th. International Seaways’s payout ratio is 95.64%.

Insider Transactions at International Seaways

In related news, major shareholder Finance Ltd Famatown sold 64,821 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 6,500,566 shares in the company, valued at $812,895,778.30. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $114.23, for a total value of $228,460.00. Following the completion of the transaction, the chief executive officer directly owned 169,745 shares in the company, valued at $19,389,971.35. This trade represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 655,028 shares of company stock valued at $76,362,341. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of International Seaways

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of International Seaways in the second quarter worth $505,153,000. Dimensional Fund Advisors LP raised its holdings in International Seaways by 1.8% during the 1st 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 last quarter. Arrowstreet Capital Limited Partnership boosted its position in International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock valued at $44,330,000 after buying an additional 380,931 shares during the period. Bank of New York Mellon Corp purchased a new stake in International Seaways during the 2nd quarter valued at $21,082,000. Finally, Empowered Funds LLC boosted its position in International Seaways by 13.9% during the 1st quarter. Empowered Funds LLC now owns 268,163 shares of the transportation company’s stock valued at $19,544,000 after buying an additional 32,634 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

(Get Free Report)

International Seaways, Inc is an international owner and operator of oceangoing tanker vessels. The company transports crude oil and refined petroleum products for energy companies and other customers.

Its fleet includes crude-oil tankers and product carriers that serve global shipping routes, connecting oil-producing regions with refineries and end markets. International Seaways also uses commercial arrangements such as vessel pools and charter contracts to market its ships.

The company became an independent publicly traded business in 2016 after being spun off from Overseas Shipholding Group.

Further Reading

Analyst Recommendations for International Seaways (NYSE:INSW)

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