International Seaways (NYSE:INSW) Downgraded by StockNews.com

StockNews.com downgraded shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a report released on Saturday morning.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on International Seaways from $63.00 to $64.00 and gave the stock a buy rating in a research report on Friday, April 19th. Jefferies Financial Group restated a buy rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th.

International Seaways Trading Down 0.5 %

NYSE INSW opened at $55.29 on Friday. International Seaways has a 52 week low of $34.77 and a 52 week high of $56.14. The business has a 50 day moving average price of $52.92 and a 200-day moving average price of $49.97. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 4.91 and a beta of -0.05.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. The business had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. As a group, equities analysts expect that International Seaways will post 9.33 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid 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 8.68%. International Seaways’s dividend payout ratio is currently 4.27%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now directly owns 75,927 shares in the company, valued at approximately $4,117,521.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total transaction of $54,230.00. Following the completion of the sale, the chief financial officer now directly owns 75,927 shares in the company, valued at $4,117,521.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction on 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. Insiders sold a total of 58,846 shares of company stock valued at $3,073,978 in the last three months. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of hedge funds have recently made changes to their positions in INSW. Swiss National Bank grew 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 worth $3,384,000 after acquiring an additional 300 shares during the last quarter. Consolidated Portfolio Review Corp increased its position in shares of International Seaways by 7.0% in the fourth quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock valued at $357,000 after acquiring an additional 516 shares during the period. Verity Asset Management Inc. raised its stake in shares of International Seaways by 6.3% during the fourth quarter. Verity Asset Management Inc. now owns 9,195 shares of the transportation company’s stock valued at $418,000 after acquiring an additional 549 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of International Seaways by 1.8% during the fourth quarter. Federated Hermes Inc. now owns 70,656 shares of the transportation company’s stock worth $3,213,000 after purchasing an additional 1,247 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of International Seaways by 19.0% in the third quarter. Nisa Investment Advisors LLC now owns 9,554 shares of the transportation company’s stock worth $430,000 after purchasing an additional 1,524 shares during the last quarter. 67.29% of the stock is currently owned by 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 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.