Key Points
- CEO Lois Zabrocky sold 2,000 shares of International Seaways stock on June 15 at an average price of $81.34, totaling about $162,680. After the sale, she still held 177,745 shares.
- International Seaways reported strong quarterly results, with EPS of $3.90 beating estimates of $2.87 and revenue rising 77.5% year over year to $325.48 million. The company also posted a 55.39% net margin.
- The company declared a quarterly dividend of $0.12 per share, payable June 26, implying an annualized yield of 0.6%. Analysts remain bullish overall, with a consensus rating of “Buy” and an average target price of $83.50.
International Seaways Inc. (NYSE:INSW - Get Free Report) CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the sale, the chief financial officer owned 101,984 shares of the company's stock, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Jeffrey Pribor also recently made the following trade(s):
- On Friday, May 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $83.72, for a total value of $83,720.00.
- On Wednesday, April 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $74.50, for a total value of $74,500.00.
International Seaways Stock Down 0.6%
INSW opened at $81.51 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. International Seaways Inc. has a 12 month low of $36.03 and a 12 month high of $92.66. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 7.42 and a beta of -0.12. The business has a 50-day moving average of $81.02 and a two-hundred day moving average of $67.67.
International Seaways (NYSE:INSW - Get Free Report) last issued its 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. The business had revenue of $325.48 million during the quarter, compared to analysts' expectations of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company's revenue for the quarter was up 77.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. On average, research analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current year.
International Seaways Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways's dividend payout ratio is presently 4.37%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on INSW shares. Weiss Ratings raised International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Pareto Securities lowered International Seaways from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Zacks Research raised International Seaways from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 27th. Jefferies Financial Group reaffirmed a "buy" rating and set a $100.00 target price on shares of International Seaways in a research note on Friday, May 8th. Finally, Wall Street Zen raised International Seaways from a "buy" rating to a "strong-buy" rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $83.50.
View Our Latest Stock Report on International Seaways
Institutional Investors Weigh In On International Seaways
A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of International Seaways by 42.0% in the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company's stock valued at $311,000 after acquiring an additional 2,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of International Seaways by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company's stock valued at $800,000 after acquiring an additional 900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in International Seaways by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company's stock worth $4,264,000 after buying an additional 18,509 shares during the period. Prudential Financial Inc. bought a new position in International Seaways in the 2nd quarter worth approximately $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in International Seaways in the 2nd quarter worth approximately $1,626,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.
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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