Key Points
- INSW CEO Lois Zabrocky sold 2,000 shares on March 16 at an average price of $67.79 for $135,580, reducing her stake by about 0.95% to 208,745 shares per the SEC filing.
- International Seaways posted strong quarterly results, reporting $2.45 EPS vs. $1.75 expected and revenue of $267.9M (up 37.7% YoY) with a 36.7% net margin.
- The company announced a quarterly dividend of $0.12 per share (annualized $0.48, ~0.7% yield) and analyst sentiment is positive, with a consensus "Buy" rating and price targets around $68 (Deutsche Bank raised its target to $80).
International Seaways Inc. (NYSE:INSW - Get Free Report) CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $66.50, for a total value of $66,500.00. Following the transaction, the chief financial officer directly owned 100,521 shares in the company, valued at $6,684,646.50. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Jeffrey Pribor also recently made the following trade(s):
- On Tuesday, February 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00.
- On Thursday, January 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $55.68, for a total transaction of $55,680.00.
International Seaways Trading Down 1.4%
Shares of International Seaways stock opened at $67.67 on Wednesday. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 10.86 and a beta of -0.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $78.51. The stock has a 50 day moving average of $63.44 and a 200 day moving average of $54.00.
International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.70. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The firm had revenue of $267.88 million during the quarter, compared to the consensus estimate of $245.29 million. During the same period last year, the company earned $0.90 EPS. The company's quarterly revenue was up 37.7% on a year-over-year basis. As a group, research analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.
International Seaways Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 20th will be paid 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 dividend yield of 0.7%. International Seaways's payout ratio is presently 7.70%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of International Seaways in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Pareto Securities raised International Seaways from a "hold" rating to a "buy" rating and set a $64.00 target price for the company in a research report on Tuesday, January 20th. BTIG Research increased their price target on shares of International Seaways from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Finally, Wall Street Zen raised International Seaways from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, International Seaways presently has a consensus rating of "Buy" and a consensus target price of $68.00.
Read Our Latest Stock Report on International Seaways
Institutional Investors Weigh In On International Seaways
Institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its stake in shares of International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock worth $47,000 after purchasing an additional 822 shares in the last quarter. Fearnley Asset Management AS purchased a new stake in shares of International Seaways in the fourth quarter valued at $6,258,000. Invesco Ltd. grew its holdings in International Seaways by 27.9% in the 4th quarter. Invesco Ltd. now owns 341,939 shares of the transportation company's stock valued at $16,601,000 after buying an additional 74,635 shares during the period. Mackenzie Financial Corp increased its position in International Seaways by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company's stock worth $954,000 after purchasing an additional 5,783 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of International Seaways by 416.1% during the 4th quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company's stock worth $525,000 after buying an additional 8,713 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.
About International Seaways
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
