Stocks of International Seaways Inc. (NYSE:INSW) traded higher last session on Wall Street, up 4.29% to $39.60.
According to the data, International Seaways Inc. (NYSE:INSW) has 9 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $65.00 and a low of $50.00, we find $54.00. Given the previous closing price of $37.97, this indicates a potential upside of 42.22 percent. INSW stock price is now -0.98% away from the 50-day moving average and 33.99% away from the 200-day moving average. The market capitalization of the company currently stands at $1.88B.
A total of 0 analysts have issued a hold rating and 9 have given it a buy rating. Brokers who have rated the stock have averaged $55.11 as their price target over the next twelve months.
With the price target of $40, Deutsche Bank recently initiated with Buy rating for International Seaways Inc. (NYSE: INSW). On July 27, 2022, BTIG Research Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $30, while ‘Jefferies’ rates the stock as ‘Buy’.
In other news, Pribor Jeffrey, SVP,CFO & Treasurer sold 1,000 shares of the company’s stock on Jan 03. The stock was sold for $36,620 at an average price of $36.62. Upon completion of the transaction, the SVP,CFO & Treasurer now directly owns 66,594 shares in the company, valued at $2.64 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15, CAO,SVP,Sec. & General Counsel Small James D III sold 6,500 shares of the business’s stock. A total of $254,843 was realized by selling the stock at an average price of $39.21. This leaves the insider owning 60,851 shares of the company worth $2.41 million. Insiders disposed of 728,658 shares of company stock worth roughly $28.85 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in INSW stock. A new stake in International Seaways Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $49,739,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC invested $9,850,000 in shares of INSW during the first quarter. In the first quarter, PORTOLAN CAPITAL MANAGEMENT, LLC acquired a new stake in International Seaways Inc. valued at approximately $6,852,000. SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) acquired a new stake in INSW for approximately $5,940,000. WEXFORD CAPITAL LP purchased a new stake in INSW valued at around $3,452,000 in the second quarter. In total, there are 220 active investors with 66.20% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $38.30 for International Seaways Inc. (NYSE: INSW). During the past 12 months, International Seaways Inc. has had a low of $12.73 and a high of $46.94. As of last week, the company has a debt-to-equity ratio of 0.80, a current ratio of 2.30, and a quick ratio of 2.30. The fifty day moving average price for INSW is $40.51 and a two-hundred day moving average price translates $30.18 for the stock.
The latest earnings results from International Seaways Inc. (NYSE: INSW) was released for Jun, 2022. According to the Marine Shipping Company, earnings per share came in at $1.43, beating analysts’ expectations of $1.19 by 0.24. This compares to -$1.45 EPS in the same period last year. The net profit margin was 21.80% and return on equity was 11.10% for INSW. The company reported revenue of $236.83 million for the quarter, compared to $84.82 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 179.23 percent. For the current quarter, analysts expect INSW to generate $238.55M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/22/2022. Investors who held shares on 12/08/2022 were paid a $1.00 dividend. On an annualized basis, this represents a $0.48 dividend and a 1.21% percent yield. There was an ex-dividend date of 12/07/2022 for this dividend. In terms of dividend payout ratio, INSW is presently at 13.10%.
International Seaways Inc.(INSW) Company Profile
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. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities. The company was formerly known as OSG International, Inc. and changed its name to International Seaways, Inc. in October 2016. International Seaways, Inc. was incorporated in 1999 and is headquartered in New York, New York.