Zacks: International Seaways Inc (INSW) Given Consensus Rating of “Strong Buy” by Analysts

International Seaways Inc (NYSE:INSW) has received an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price target of $26.67 for the company and are forecasting that the company will post ($0.26) EPS for the current quarter, according to Zacks. Zacks has also given International Seaways an industry rank of 240 out of 265 based on the ratings given to its competitors.

A number of brokerages recently weighed in on INSW. Zacks Investment Research cut International Seaways from a “hold” rating to a “strong sell” rating in a report on Friday, October 20th. Pareto Securities began coverage on International Seaways in a report on Tuesday, January 16th. They issued a “buy” rating on the stock.

A number of institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its holdings in 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 valued at $2,603,000 after acquiring an additional 23,685 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in International Seaways in the third quarter valued at $325,000. Mackenzie Financial Corp boosted its holdings in International Seaways by 63.7% in the third quarter. Mackenzie Financial Corp now owns 102,320 shares of the transportation company’s stock valued at $2,016,000 after acquiring an additional 39,820 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in International Seaways by 59.0% in the third quarter. Dimensional Fund Advisors LP now owns 561,379 shares of the transportation company’s stock valued at $11,059,000 after acquiring an additional 208,301 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in International Seaways by 44.2% in the third quarter. Wells Fargo & Company MN now owns 32,463 shares of the transportation company’s stock valued at $639,000 after acquiring an additional 9,945 shares during the last quarter. Hedge funds and other institutional investors own 86.33% of the company’s stock.

Shares of International Seaways (INSW) traded down $0.22 during trading hours on Friday, hitting $18.25. The stock had a trading volume of 127,344 shares, compared to its average volume of 166,071. The stock has a market capitalization of $537.29 and a P/E ratio of -7.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.74 and a current ratio of 3.78. International Seaways has a twelve month low of $16.37 and a twelve month high of $23.43.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 9th. The transportation company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.13). International Seaways had a negative net margin of 23.86% and a positive return on equity of 1.36%. research analysts forecast that International Seaways will post -0.05 earnings per share for the current year.

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International Seaways Company Profile

International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.

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