Key Points
- CAO James Small III sold 20,000 shares at an average price of $75.37 for a total of $1,507,400, reducing his position by 35.48% to 36,376 shares (SEC filing).
- Quarterly results topped estimates: INSW reported $2.45 EPS versus a $1.75 consensus and revenue of $267.9M (up 37.7% YoY), with analysts projecting about 7.77 EPS for the year.
- Quarterly dividend declared: the company announced a $0.12 per-share dividend (annualized $0.48, ~0.7% yield), with record date March 20 and payment on March 30.
International Seaways Inc. (NYSE:INSW - Get Free Report) Director Randee Day sold 2,635 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $75.40, for a total value of $198,679.00. Following the completion of the sale, the director directly owned 22,525 shares of the company's stock, valued at $1,698,385. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
International Seaways Trading Down 1.8%
Shares of International Seaways stock traded down $1.34 during mid-day trading on Friday, hitting $71.21. The stock had a trading volume of 183,884 shares, compared to its average volume of 585,209. The firm has a 50-day moving average of $59.93 and a two-hundred day moving average of $52.41. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The firm has a market cap of $3.52 billion, a P/E ratio of 11.43 and a beta of -0.23. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $78.51.
International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.75 by $0.70. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm had revenue of $267.88 million for the quarter, compared to analyst estimates of $245.29 million. During the same period in the prior year, the business posted $0.90 EPS. The business's revenue for the quarter was up 37.7% compared to the same quarter last year. Sell-side analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.
International Seaways Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, March 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. International Seaways's dividend payout ratio is 7.70%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on INSW shares. Pareto Securities upgraded International Seaways from a "hold" rating to a "buy" rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 20th. BTIG Research lifted their price objective on International Seaways from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Zacks Research raised International Seaways from a "hold" rating to a "strong-buy" rating in a research report on Monday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of International Seaways in a report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of International Seaways from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, International Seaways has a consensus rating of "Buy" and an average target price of $64.00.
Read Our Latest Research Report on INSW
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its holdings in 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 purchasing an additional 200 shares during the last quarter. Arizona State Retirement System raised its position in shares of International Seaways by 1.7% in the 3rd quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company's stock worth $572,000 after buying an additional 206 shares during the period. ProShare Advisors LLC raised its stake in shares of International Seaways by 3.2% in the 4th 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. Evergreen Capital Management LLC boosted its holdings in International Seaways by 2.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company's stock worth $453,000 after acquiring an additional 274 shares during the period. Finally, Guggenheim Capital LLC grew its stake in shares of International Seaways by 1.4% during the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company's stock valued at $959,000 after acquiring an additional 275 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.
International Seaways Company Profile
(
Get Free Report)
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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