Key Points
- CEO Lois Zabrocky sold 25,000 shares of International Seaways at an average price of $88.08, totaling about $2.2 million and reducing her ownership by 12.09%.
- The company posted stronger-than-expected quarterly results, with EPS of $3.90 versus estimates of $2.87 and revenue of $325.48 million, up 77.5% from a year ago.
- International Seaways declared a quarterly dividend of $0.12 per share, payable June 26, while Wall Street currently has a consensus rating of “Moderate Buy” and a target price of $83.50.
International Seaways Inc. (NYSE:INSW - Get Free Report) SVP Derek Solon sold 4,700 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the sale, the senior vice president owned 49,719 shares in the company, valued at approximately $4,435,929.18. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
International Seaways Stock Down 3.4%
International Seaways stock opened at $85.39 on Thursday. International Seaways Inc. has a 12 month low of $35.60 and a 12 month high of $92.66. The stock has a fifty day simple moving average of $75.91 and a two-hundred day simple moving average of $62.46. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 7.78 and a beta of -0.09.
International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The firm had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. During the same period in the prior year, the company posted $0.80 earnings per share. The company's quarterly revenue was up 77.5% on a year-over-year basis. Equities analysts predict that International Seaways Inc. will post 14.99 EPS for the current fiscal year.
International Seaways Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways's dividend payout ratio is currently 4.37%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. First Horizon Corp lifted its position in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company's stock valued at $33,000 after buying an additional 377 shares in the last quarter. Federated Hermes Inc. increased its holdings in International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company's stock worth $35,000 after acquiring an additional 378 shares in the last quarter. Leonteq Securities AG purchased a new stake in International Seaways in the 4th quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC bought a new stake in International Seaways during the 4th quarter worth approximately $46,000. Finally, Rockefeller Capital Management L.P. raised its stake in 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 acquiring an additional 822 shares during the period. Institutional investors own 67.29% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on INSW. Weiss Ratings raised shares of International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. BTIG Research raised their target price on shares of International Seaways from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their target price 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. Benchmark reissued a "buy" rating on shares of International Seaways in a report on Thursday, February 26th. Finally, Wall Street Zen upgraded International Seaways from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 13th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.50.
Read Our Latest Research Report on International Seaways
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.
Featured Articles
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].
