Key Points
- International Seaways Director Alexandra Blankenship sold 4,000 shares for $418,160, reducing her direct stake by 33.18% to 8,055 shares.
- Latest quarterly results showed EPS of $5.84, below the $6.09 consensus estimate, while revenue rose 146% year over year to $483.2 million.
- The company declared a quarterly dividend of $5.05 per share, equivalent to a 19.2% annualized yield; payment is scheduled for December 23 to shareholders of record December 9.
International Seaways Inc. (NYSE:INSW - Get Free Report) Director Alexandra Blankenship sold 4,000 shares of the firm's stock in a transaction on Friday, November 13th. The stock was sold at an average price of $104.54, for a total value of $418,160.00. Following the completion of the transaction, the director directly owned 8,055 shares of the company's stock, valued at approximately $842,069.70. This trade represents a 33.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
International Seaways Stock Performance
INSW traded up $0.43 during trading on Friday, reaching $105.08. 399,405 shares of the company's stock were exchanged, compared to its average volume of 849,859. The company has a quick ratio of 6.53, a current ratio of 6.69 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $108.78 and a 200 day moving average price of $87.68. The company has a market capitalization of $5.38 billion, a P/E ratio of 4.98, a PEG ratio of 0.18 and a beta of -0.10. International Seaways Inc. has a fifty-two week low of $46.09 and a fifty-two week high of $126.27.
International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The transportation company reported $5.84 earnings per share for the quarter, missing the consensus estimate of $6.09 by ($0.25). International Seaways had a net margin of 68.19% and a return on equity of 40.81%. The company had revenue of $483.20 million during the quarter, compared to the consensus estimate of $349.50 million. During the same quarter in the prior year, the company posted $1.15 earnings per share. The company's revenue for the quarter was up 146.0% on a year-over-year basis. As a group, analysts predict that International Seaways Inc. will post 27.24 earnings per share for the current fiscal year.
International Seaways Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Wednesday, December 9th will be paid a $5.05 dividend. The ex-dividend date of this dividend is Wednesday, December 9th. This represents a $20.20 annualized dividend and a yield of 19.2%. International Seaways's payout ratio is currently 95.64%.
Institutional Trading of International Seaways
A number of hedge funds and other institutional investors have recently made changes to their positions in INSW. BlackRock Inc. acquired a new stake in shares of International Seaways in the second quarter valued at $505,153,000. Dimensional Fund Advisors LP raised its holdings in shares of International Seaways by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company's stock valued at $220,436,000 after buying an additional 52,743 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock worth $44,330,000 after buying an additional 380,931 shares in the last quarter. First Trust Advisors LP lifted its position in International Seaways by 148.9% during the 3rd quarter. First Trust Advisors LP now owns 543,653 shares of the transportation company's stock worth $59,878,000 after buying an additional 325,225 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in International Seaways by 51.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 285,205 shares of the transportation company's stock worth $31,412,000 after buying an additional 96,488 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have weighed in on INSW. Zacks Research cut International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 5th. BTIG Research lifted their price objective on International Seaways from $100.00 to $130.00 and gave the company a "buy" rating in a report on Friday, September 18th. B. Riley Financial boosted their target price on shares of International Seaways from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Jefferies Financial Group upped their target price on shares of International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, International Seaways currently has an average rating of "Moderate Buy" and a consensus target price of $109.80.
Read Our Latest Analysis on INSW
International Seaways Company Profile
(
Get Free Report)
International Seaways, Inc. is an international owner and operator of oceangoing tanker vessels. The company transports crude oil and refined petroleum products for energy companies and other customers. Its fleet includes crude-oil tankers and product carriers that serve global shipping routes, connecting oil-producing regions with refineries and end markets. International Seaways also uses commercial arrangements such as vessel pools and charter contracts to market its ships. The company became an independent publicly traded business in 2016 after being spun off from Overseas Shipholding Group.
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