International Seaways (NYSE:INSW) Cut to Hold at StockNews.com

StockNews.com downgraded shares of International Seaways (NYSE:INSWFree Report) from a buy rating to a hold rating in a report published on Wednesday morning.

Separately, Jefferies Financial Group restated a buy rating and set a $66.00 target price on shares of International Seaways in a research report on Thursday, February 29th.

Check Out Our Latest Stock Report on International Seaways

International Seaways Stock Performance

INSW opened at $53.03 on Wednesday. The firm has a market cap of $2.59 billion, a P/E ratio of 4.71 and a beta of -0.05. International Seaways has a 1-year low of $34.77 and a 1-year high of $55.59. The company has a 50 day simple moving average of $52.64 and a two-hundred day simple moving average of $49.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSWGet Free Report) last issued its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The firm had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. Equities analysts forecast that International Seaways will post 9.27 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 9.05%. International Seaways’s dividend payout ratio (DPR) is currently 4.27%.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total value of $54,230.00. Following the sale, the chief financial officer now owns 75,927 shares of the company’s stock, valued at $4,117,521.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas D. Wheat sold 3,846 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the completion of the transaction, the director now directly owns 26,056 shares in the company, valued at approximately $1,334,588.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank increased its position in International Seaways by 0.4% during the 3rd quarter. Swiss National Bank now owns 75,200 shares of the transportation company’s stock valued at $3,384,000 after purchasing an additional 300 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of International Seaways by 55.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock valued at $39,000 after buying an additional 361 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in shares of International Seaways by 3.7% in the 1st quarter. WINTON GROUP Ltd now owns 10,652 shares of the transportation company’s stock valued at $444,000 after buying an additional 379 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of International Seaways by 29.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock valued at $62,000 after buying an additional 384 shares in the last quarter. Finally, Toroso Investments LLC boosted its holdings in shares of International Seaways by 5.2% in the 1st quarter. Toroso Investments LLC now owns 9,178 shares of the transportation company’s stock valued at $383,000 after buying an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

(Get Free Report)

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, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.

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