International Seaways, Inc. (NYSE:INSW) Receives $51.00 Consensus Price Target from Brokerages

International Seaways, Inc. (NYSE:INSW – Get Rating) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $51.00.

Several equities research analysts recently commented on INSW shares. StockNews.com started coverage on International Seaways in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. BTIG Research increased their price target on International Seaways from $30.00 to $50.00 in a report on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft increased their price target on International Seaways from $40.00 to $50.00 in a report on Thursday, October 27th. Stifel Nicolaus increased their price target on International Seaways from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 14th. Finally, B. Riley increased their price target on International Seaways from $50.00 to $60.00 in a report on Wednesday, November 9th.

Insider Transactions at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $42.71, for a total value of $42,710.00. Following the completion of the sale, the chief financial officer now directly owns 45,348 shares of the company’s stock, valued at $1,936,813.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $42.71, for a total transaction of $42,710.00. Following the completion of the sale, the chief financial officer now directly owns 45,348 shares of the company’s stock, valued at $1,936,813.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randee E. Day sold 1,500 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $43.47, for a total value of $65,205.00. Following the sale, the director now directly owns 22,116 shares of the company’s stock, valued at $961,382.52. The disclosure for this sale can be found here. Insiders sold a total of 121,000 shares of company stock valued at $5,346,150 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Institutional Trading of International Seaways

A number of institutional investors and hedge funds have recently modified their holdings of INSW. Raymond James & Associates increased its position in shares of International Seaways by 66.3% during the first quarter. Raymond James & Associates now owns 30,045 shares of the transportation company’s stock valued at $542,000 after acquiring an additional 11,977 shares during the last quarter. Natixis Advisors L.P. increased its position in International Seaways by 17.0% in the first quarter. Natixis Advisors L.P. now owns 49,006 shares of the transportation company’s stock worth $884,000 after buying an additional 7,125 shares during the last quarter. BlackRock Inc. increased its position in International Seaways by 0.5% in the first quarter. BlackRock Inc. now owns 3,280,445 shares of the transportation company’s stock worth $59,180,000 after buying an additional 16,434 shares during the last quarter. Dimensional Fund Advisors LP increased its position in International Seaways by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,838,288 shares of the transportation company’s stock worth $33,162,000 after buying an additional 136,964 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in International Seaways by 1.9% in the first quarter. Vanguard Group Inc. now owns 3,465,109 shares of the transportation company’s stock worth $62,511,000 after buying an additional 64,562 shares during the last quarter. 84.39% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Up 1.9 %

Shares of International Seaways stock opened at $38.46 on Wednesday. International Seaways has a one year low of $13.36 and a one year high of $48.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.31 and a quick ratio of 2.30. The stock’s 50-day moving average is $39.39 and its 200 day moving average is $34.92. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 14.14 and a beta of 0.07.

International Seaways (NYSE:INSW – Get Rating) last announced its earnings results on Tuesday, November 8th. The transportation company reported $2.28 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.14). International Seaways had a net margin of 21.81% and a return on equity of 11.60%. The business had revenue of $236.83 million for the quarter, compared to the consensus estimate of $236.13 million. Equities research analysts anticipate that International Seaways will post 7.36 EPS for the current year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 22nd. Stockholders of record on Thursday, December 8th were paid a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, December 7th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $4.48 annualized dividend and a dividend yield of 11.65%. International Seaways’s dividend payout ratio is 17.65%.

International Seaways Company Profile

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International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.