Key Points
- Debra Grillo, the company's treasurer, sold 389 shares of INSW on March 9 at an average price of $76.27 for about $29,669, cutting her holding by 24.71% to 1,185 shares (SEC Form 4 filed).
- International Seaways reported strong quarterly results with $2.45 EPS (vs. $1.75 expected) and revenue up 37.7% year-over-year, and analysts now carry a consensus "Buy" rating with a $68 price target and several upgrades raising targets toward $80.
- The company declared a quarterly dividend of $0.12 (annualized $0.48) payable March 30, implying a yield of about 0.7% and a dividend payout ratio of 7.7%.
International Seaways Inc. (NYSE:INSW - Get Free Report) Treasurer Debra Grillo sold 389 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $76.27, for a total transaction of $29,669.03. Following the completion of the transaction, the treasurer directly owned 1,185 shares of the company's stock, valued at $90,379.95. This represents a 24.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
International Seaways Stock Performance
NYSE:INSW opened at $73.20 on Wednesday. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $78.51. The company has a fifty day simple moving average of $61.44 and a two-hundred day simple moving average of $53.19. 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 company has a market cap of $3.62 billion, a price-to-earnings ratio of 11.75 and a beta of -0.23.
International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.70. The business had revenue of $267.88 million for the quarter, compared to analysts' expectations of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The company's revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. As a group, equities analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.
International Seaways Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be given a $0.12 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 7.70%.
Analyst Upgrades and Downgrades
INSW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday. Pareto Securities upgraded shares of International Seaways from a "hold" rating to a "buy" rating and set a $64.00 price target for the company in a research note on Tuesday, January 20th. Zacks Research upgraded shares of International Seaways from a "hold" rating to a "strong-buy" rating in a report on Monday, March 2nd. Wall Street Zen raised shares of International Seaways from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, BTIG Research raised their price objective on shares of International Seaways from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $68.00.
Get Our Latest Report on INSW
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in INSW. Amundi acquired a new position in shares of International Seaways in the 4th quarter valued at $13,663,000. Donald Smith & CO. Inc. lifted its position in International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company's stock valued at $25,866,000 after acquiring an additional 216,325 shares during the last quarter. Pacer Advisors Inc. boosted its stake in International Seaways by 4,255.3% in the third quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company's stock valued at $9,095,000 after acquiring an additional 192,848 shares in the last quarter. American Century Companies Inc. boosted its stake in International Seaways by 9.4% in the second quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company's stock valued at $67,674,000 after acquiring an additional 159,125 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of International Seaways during the fourth quarter worth about $7,087,000. Hedge funds and other institutional investors own 67.29% of the company's stock.
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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