Shares of International Seaways (NYSE:INSW) have received a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus target price of $27.33 for the company and are predicting that the company will post ($0.56) EPS for the current quarter, according to Zacks. Zacks has also given International Seaways an industry rank of 204 out of 265 based on the ratings given to related companies.
A number of research firms recently commented on INSW. JPMorgan Chase boosted their target price on shares of International Seaways from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, March 23rd. Zacks Investment Research upgraded shares of International Seaways from a “sell” rating to a “hold” rating in a report on Thursday, March 22nd. ValuEngine downgraded shares of International Seaways from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Pareto Securities began coverage on shares of International Seaways in a report on Tuesday, January 16th. They issued a “buy” rating on the stock.
NYSE INSW opened at $19.97 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.79 and a quick ratio of 2.72. International Seaways has a 12 month low of $15.23 and a 12 month high of $23.43.
International Seaways (NYSE:INSW) last released its earnings results on Thursday, March 8th. The transportation company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03. International Seaways had a negative net margin of 36.57% and a negative return on equity of 0.11%. The business had revenue of $69.40 million for the quarter, compared to the consensus estimate of $66.17 million. During the same period in the previous year, the firm earned ($1.98) EPS. The business’s revenue for the quarter was down 19.1% on a year-over-year basis. equities analysts predict that International Seaways will post -1.08 earnings per share for the current year.
In other news, major shareholder Paulson & Co. Inc. bought 357,479 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were acquired at an average cost of $18.34 per share, with a total value of $6,556,164.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.52% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in shares of International Seaways in the third quarter worth approximately $325,000. Schwab Charles Investment Management Inc. increased its position in shares of International Seaways by 20.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 140,967 shares of the transportation company’s stock worth $2,603,000 after acquiring an additional 23,685 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of International Seaways by 34.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 155,512 shares of the transportation company’s stock worth $2,871,000 after acquiring an additional 40,014 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of International Seaways by 184.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,407,644 shares of the transportation company’s stock worth $44,445,000 after acquiring an additional 1,560,422 shares in the last quarter. Finally, Hosking Partners LLP purchased a new position in shares of International Seaways in the fourth quarter worth approximately $4,419,000. 85.35% of the stock is currently owned by institutional investors and hedge funds.
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About International Seaways
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of March 8, 2018, the company owned or operated a fleet of 53 vessels, including 1 ultra large crude carrier, 9 very large crude carriers, 2 Suezmaxes, 8 Aframaxes, 12 Panamaxes, and 15 medium range tankers.
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