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

StockNews.com lowered shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

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

International Seaways Stock Up 2.8 %

Shares of NYSE:INSW opened at $53.03 on Wednesday. The business has a 50-day moving average price of $52.64 and a 200 day moving average price of $49.36. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 4.71 and a beta of -0.05. International Seaways has a 12-month low of $34.77 and a 12-month high of $55.59.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. The firm 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%. Sell-side analysts expect that International Seaways will post 9.27 EPS for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 9.05%. The ex-dividend date of this dividend was Wednesday, March 13th. 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 International Seaways 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 completion of the transaction, the chief financial officer now directly owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the transaction, the chief executive officer now owns 148,942 shares in the company, valued at approximately $7,874,563.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways 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 completion of the transaction, the chief financial officer now owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. 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. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in shares of International Seaways in the 4th quarter valued at about $4,137,000. Qube Research & Technologies Ltd lifted its stake in International Seaways by 103.9% during the third quarter. Qube Research & Technologies Ltd now owns 44,250 shares of the transportation company’s stock worth $1,991,000 after purchasing an additional 22,545 shares during the last quarter. Hosking Partners LLP lifted its stake in International Seaways by 20.1% during the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after purchasing an additional 161,643 shares during the last quarter. Natixis Advisors L.P. lifted its stake in International Seaways by 103.2% during the third quarter. Natixis Advisors L.P. now owns 41,973 shares of the transportation company’s stock worth $1,889,000 after purchasing an additional 21,320 shares during the last quarter. Finally, Barclays PLC lifted its stake in International Seaways by 160.9% during the third quarter. Barclays PLC now owns 55,522 shares of the transportation company’s stock worth $2,498,000 after purchasing an additional 34,242 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.