BTIG Research initiated coverage on shares of International Seaways (NYSE:INSW) in a report released on Friday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $30.00 price objective on the transportation company’s stock.
Separately, Zacks Investment Research downgraded shares of International Seaways from a buy rating to a hold rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $27.25.
NYSE INSW traded up $0.42 during trading on Friday, hitting $25.88. 424,433 shares of the company’s stock traded hands, compared to its average volume of 178,937. The stock has a market capitalization of $743.94 million, a price-to-earnings ratio of -11.76 and a beta of 0.21. International Seaways has a 12-month low of $15.15 and a 12-month high of $26.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.69 and a current ratio of 1.73. The business has a 50 day moving average of $18.94 and a 200-day moving average of $18.30.
International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, August 8th. The transportation company reported ($0.51) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.03. The business had revenue of $69.01 million for the quarter, compared to the consensus estimate of $71.97 million. International Seaways had a negative net margin of 13.98% and a negative return on equity of 2.49%. On average, analysts expect that International Seaways will post 0.44 EPS for the current year.
Several institutional investors have recently made changes to their positions in INSW. BlackRock Inc. lifted its holdings in shares of International Seaways by 15.3% in the second quarter. BlackRock Inc. now owns 1,818,598 shares of the transportation company’s stock worth $34,553,000 after buying an additional 241,547 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of International Seaways by 323.7% in the second quarter. Citadel Advisors LLC now owns 264,308 shares of the transportation company’s stock worth $5,022,000 after buying an additional 201,928 shares in the last quarter. Carlson Capital L P lifted its holdings in shares of International Seaways by 44.6% in the second quarter. Carlson Capital L P now owns 474,067 shares of the transportation company’s stock worth $9,007,000 after buying an additional 146,300 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of International Seaways by 1,001.0% in the second quarter. Renaissance Technologies LLC now owns 115,600 shares of the transportation company’s stock worth $2,196,000 after buying an additional 105,100 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of International Seaways in the second quarter worth about $1,890,000. 76.54% of the stock is currently owned by hedge funds and other institutional investors.
International Seaways 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 trades. It operates through two segments, Crude Tankers and Product Carriers. As of December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.
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