Key Points
- International Seaways CFO Jeffrey Pribor sold 1,000 shares on May 15 at an average price of $83.72, reducing his ownership by 0.96% while still holding 102,984 shares worth about $8.62 million.
- The company posted stronger-than-expected first-quarter results, reporting EPS of $3.90 versus estimates of $2.87 and revenue of $325.48 million, up 77.5% year over year.
- International Seaways also declared a quarterly dividend of $0.12 per share, payable June 26, and analysts remain generally positive with a consensus rating of “Moderate Buy.”
International Seaways Inc. (NYSE:INSW - Get Free Report) CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $83.72, for a total transaction of $83,720.00. Following the transaction, the chief financial officer directly owned 102,984 shares of the company's stock, valued at approximately $8,621,820.48. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Jeffrey Pribor also recently made the following trade(s):
- On Wednesday, April 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $74.50, for a total transaction of $74,500.00.
- On Monday, March 16th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $66.50, for a total transaction of $66,500.00.
- On Tuesday, February 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $63.29, for a total transaction of $63,290.00.
International Seaways Price Performance
Shares of NYSE INSW opened at $85.40 on Tuesday. The firm has a market cap of $4.23 billion, a PE ratio of 7.78 and a beta of -0.09. The firm has a fifty day moving average of $76.55 and a 200 day moving average of $63.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. International Seaways Inc. has a one year low of $35.60 and a one year high of $92.66.
International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping the consensus estimate of $2.87 by $1.03. The company had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm's revenue was up 77.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. As a group, research analysts predict that International Seaways Inc. will post 14.99 EPS for the current fiscal year.
International Seaways Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways's payout ratio is presently 4.37%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $100.00 price target on shares of International Seaways in a report on Friday, May 8th. BTIG Research upped 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 upped their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Weiss Ratings raised shares of International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Finally, Benchmark reaffirmed a "buy" rating on shares of International Seaways in a report on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.50.
View Our Latest Analysis on INSW
Institutional Investors Weigh In On International Seaways
Large investors have recently modified their holdings of the business. First Horizon Corp grew its holdings in shares of International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company's stock worth $33,000 after buying an additional 377 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company's stock worth $35,000 after buying an additional 378 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of International Seaways during the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways during the fourth quarter worth $46,000. Finally, Rockefeller Capital Management L.P. boosted its position 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 valued at $47,000 after acquiring an additional 822 shares during the last quarter. Hedge funds and other institutional investors 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.
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