Key Points
- International Seaways SVP William Nugent sold 6,830 shares on May 14 at an average price of $85.23, generating about $582,121 and reducing his ownership by 12.2%.
- The company reported strong quarterly results, with EPS of $3.90 versus the $2.87 consensus and revenue up 77.5% year over year to $325.48 million.
- International Seaways also declared a quarterly dividend of $0.12 per share, and analysts currently maintain a consensus rating of “Moderate Buy” with an average price target of $83.50.
International Seaways Inc. (NYSE:INSW - Get Free Report) SVP William Nugent sold 6,830 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.23, for a total transaction of $582,120.90. Following the completion of the transaction, the senior vice president directly owned 49,169 shares of the company's stock, valued at $4,190,673.87. The trade was a 12.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
International Seaways Stock Performance
Shares of International Seaways stock opened at $84.57 on Friday. The firm has a market capitalization of $4.19 billion, a P/E ratio of 7.70 and a beta of -0.09. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $76.29 and a 200 day moving average price of $62.87. International Seaways Inc. has a 52 week low of $35.60 and a 52 week high of $92.66.
International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. During the same period last year, the firm posted $0.80 EPS. International Seaways's revenue for the quarter was up 77.5% compared to the same quarter last year. Sell-side analysts expect that International Seaways Inc. will post 14.99 EPS for the current year.
International Seaways Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. International Seaways's dividend payout ratio (DPR) is currently 4.37%.
Analyst Ratings Changes
A number of equities analysts have issued reports on INSW shares. Deutsche Bank Aktiengesellschaft raised their price target 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. Zacks Research lowered shares of International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Wall Street Zen raised shares of International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th. Weiss Ratings raised shares of International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Finally, Jefferies Financial Group reissued a "buy" rating and set a $100.00 price target on shares of International Seaways in a research report on Friday, May 8th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, International Seaways has a consensus rating of "Moderate Buy" and an average price target of $83.50.
View Our Latest Research Report on INSW
Institutional Investors Weigh In On International Seaways
Hedge funds and other institutional investors have recently made changes to their positions in the company. TrueMark Investments LLC acquired a new stake in shares of International Seaways during the 4th quarter worth approximately $1,404,000. Assenagon Asset Management S.A. acquired a new stake in shares of International Seaways during the 4th quarter worth approximately $910,000. SG Americas Securities LLC grew its stake in shares of International Seaways by 123.4% during the 4th quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company's stock worth $1,664,000 after purchasing an additional 18,935 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of International Seaways during the 4th quarter worth approximately $709,000. Finally, Denali Advisors LLC grew its stake in shares of International Seaways by 94.3% during the 3rd quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company's stock worth $2,248,000 after purchasing an additional 23,674 shares during the period. 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.
Further Reading
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