Key Points
- CEO Lois Zabrocky sold 2,000 shares of International Seaways at an average price of $114.23, generating approximately $228,460. She retained 169,745 shares, with the sale reducing her direct ownership by 1.16%.
- International Seaways reported quarterly EPS of $5.91, exceeding estimates of $5.55, while revenue surged 138.9% year over year to $467.29 million. The company also declared a $5.05-per-share quarterly dividend, equal to a 19.3% yield.
- Analysts maintain a generally positive outlook, with the stock carrying an average “Buy” rating and a $109.80 consensus price target. The company is also expanding its fleet through a roughly $370 million acquisition of four VLCCs, increasing both earning potential and exposure to volatile tanker rates.
International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $114.23, for a total value of $228,460.00. Following the sale, the chief executive officer directly owned 169,745 shares of the company's stock, valued at approximately $19,389,971.35. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
International Seaways Price Performance
Shares of INSW stock opened at $104.88 on Tuesday. International Seaways Inc. has a twelve month low of $44.84 and a twelve month high of $126.27. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $105.99 and a two-hundred day simple moving average of $91.45. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 0.27 and a beta of -0.14.
International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating the consensus estimate of $5.55 by $0.36. The firm had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The business's revenue for the quarter was up 138.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. On average, analysts predict that International Seaways Inc. will post 17.08 EPS for the current fiscal year.
International Seaways Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a dividend of $5.05 per share. This represents a $20.20 annualized dividend and a yield of 19.3%. The ex-dividend date was Thursday, September 10th. This is a positive change from International Seaways's previous quarterly dividend of $0.12. International Seaways's dividend payout ratio (DPR) is currently 129.16%.
Wall Street Analysts Forecast Growth
INSW has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on shares of International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. BTIG Research increased their price objective on shares of International Seaways from $100.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, September 18th. Zacks Research raised shares of International Seaways from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 7th. Finally, Weiss Ratings raised shares of International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $109.80.
Get Our Latest Analysis on INSW
Key International Seaways News
Here are the key news stories impacting International Seaways this week:
- Positive Sentiment: International Seaways agreed to acquire Bruton, adding four very large crude carriers (VLCCs) to its fleet for approximately $370 million. The deal could expand the company’s earning capacity and exposure to tanker-market strength. International Seaways Expands VLCC Fleet Through Combination with Bruton
- Positive Sentiment: A reported consensus price target of $109.80 remains above the stock’s recent trading level, suggesting analysts see some potential upside, although the target is not a guarantee. Consensus target for International Seaways stock stands at USD 109.80
- Neutral Sentiment: The Bruton acquisition increases fleet scale but also commits substantial capital and could increase exposure to volatile tanker rates. Investors may look for details on funding, expected returns and integration.
- Negative Sentiment: International Seaways CEO Lois Zabrocky sold 2,000 shares for approximately $228,460, reducing her ownership by 1.16%. The sale was relatively small compared with her remaining stake, but executive selling can weigh on sentiment. SEC Form 4 filing
- Negative Sentiment: Major shareholder Famatown Finance and other reported insiders sold large blocks of International Seaways stock, with aggregate reported sales totaling roughly $107 million over several months. The scale of the disposals is likely contributing to selling pressure and investor concerns about insider conviction. International Seaways owner sells $107 million stake over months
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in shares of International Seaways by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company's stock worth $85,000 after purchasing an additional 118 shares during the last quarter. Allworth Financial LP lifted its position in International Seaways by 23.4% during the second quarter. Allworth Financial LP now owns 623 shares of the transportation company's stock valued at $48,000 after purchasing an additional 118 shares during the period. GAMMA Investing LLC boosted its holdings in International Seaways by 4.0% in the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company's stock valued at $353,000 after purchasing an additional 178 shares during the last quarter. Mather Group LLC. boosted its holdings in International Seaways by 100.0% in the third quarter. Mather Group LLC. now owns 400 shares of the transportation company's stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in International Seaways by 16.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,074 shares of the transportation company's stock worth $151,000 after purchasing an additional 292 shares during the period. 67.29% of the stock is owned by institutional investors.
About International Seaways
(
Get Free Report)
International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.
The company's fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.
International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.
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