International Seaways (NYSE:INSW) Hits New 1-Year High at $35.11

International Seaways, Inc. (NYSE:INSWGet Rating)’s stock price reached a new 52-week high on Monday . The stock traded as high as $35.11 and last traded at $34.95, with a volume of 11554 shares trading hands. The stock had previously closed at $33.59.

Analysts Set New Price Targets

A number of brokerages have recently commented on INSW. Jefferies Financial Group lifted their price target on shares of International Seaways from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. StockNews.com upgraded shares of International Seaways from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Clarkson Capital reiterated a “buy” rating on shares of International Seaways in a report on Tuesday, June 14th. Stifel Nicolaus raised their target price on shares of International Seaways from $27.00 to $31.00 in a research report on Tuesday, July 19th. Finally, BTIG Research raised shares of International Seaways from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

International Seaways Trading Down 0.1 %

The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -35.95 and a beta of 0.03. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.08 and a quick ratio of 2.08. The business’s 50-day simple moving average is $27.78 and its two-hundred day simple moving average is $23.21.

International Seaways (NYSE:INSWGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.21. The firm had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $176.49 million. International Seaways had a negative net margin of 9.66% and a negative return on equity of 0.07%. On average, research analysts anticipate that International Seaways, Inc. will post 4.55 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. International Seaways’s dividend payout ratio is currently -48.00%.

Insider Activity

In other news, Director Douglas D. Wheat sold 20,000 shares of International Seaways stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $30.85, for a total transaction of $617,000.00. Following the sale, the director now owns 62,504 shares in the company, valued at $1,928,248.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Douglas D. Wheat sold 20,000 shares of International Seaways stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $30.85, for a total transaction of $617,000.00. Following the sale, the director now owns 62,504 shares in the company, valued at $1,928,248.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ian T. Blackley sold 15,499 shares of International Seaways stock in a transaction on Friday, September 9th. The stock was sold at an average price of $32.57, for a total transaction of $504,802.43. Following the completion of the sale, the director now owns 24,090 shares of the company’s stock, valued at approximately $784,611.30. The disclosure for this sale can be found here. Insiders have sold 37,499 shares of company stock worth $1,166,212 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Institutional Trading of International Seaways

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new stake in shares of International Seaways in the fourth quarter worth $29,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of International Seaways in the fourth quarter worth $146,000. BNP Paribas Arbitrage SA increased its stake in International Seaways by 57.6% during the fourth quarter. BNP Paribas Arbitrage SA now owns 19,718 shares of the transportation company’s stock valued at $289,000 after purchasing an additional 7,204 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in International Seaways during the first quarter valued at $198,000. Finally, Pacific Ridge Capital Partners LLC increased its stake in International Seaways by 1.4% during the first quarter. Pacific Ridge Capital Partners LLC now owns 323,966 shares of the transportation company’s stock valued at $5,844,000 after purchasing an additional 4,420 shares during the last quarter. Institutional investors own 85.79% of the company’s stock.

International Seaways Company Profile

(Get Rating)

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.

Featured Stories

Receive News & Ratings for International Seaways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways and related companies with MarketBeat.com's FREE daily email newsletter.