International Seaways (NYSE:INSW) Shares Up 4.1% – Still a Buy?

Shares of International Seaways, Inc. (NYSE:INSW) shot up 4.1% on Tuesday . The company traded as high as $40.03 and last traded at $40.44. 54,038 shares changed hands during trading, a decline of 93% from the average session volume of 751,524 shares. The stock had previously closed at $38.85.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th.

International Seaways Stock Performance

The firm’s fifty day simple moving average is $35.81 and its 200 day simple moving average is $35.97. The company has a market capitalization of $2.01 billion, a PE ratio of 3.93 and a beta of 0.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.21. The business had revenue of $178.34 million during the quarter, compared to analysts’ expectations of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company’s revenue for the quarter was down 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.92 EPS. On average, research analysts predict that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.18%. International Seaways’s dividend payout ratio is presently 7.42%.

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $37.13, for a total transaction of $37,130.00. Following the completion of the transaction, the senior vice president now owns 60,752 shares in the company, valued at $2,255,721.76. This represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Derek G. Solon sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the completion of the transaction, the senior vice president now owns 55,893 shares in the company, valued at $2,136,230.46. The trade was a 2.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,500 shares of company stock valued at $300,720. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

A number of hedge funds have recently modified their holdings of INSW. Banque Transatlantique SA acquired a new position in International Seaways in the 4th quarter valued at about $29,000. Larson Financial Group LLC purchased a new stake in shares of International Seaways during the 4th quarter valued at approximately $37,000. GAMMA Investing LLC lifted its holdings in International Seaways by 105.1% in the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 596 shares during the last quarter. Quarry LP lifted its holdings in International Seaways by 169.0% in the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 852 shares during the last quarter. Finally, Blue Trust Inc. grew its position in International Seaways by 87.3% in the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company’s stock worth $53,000 after acquiring an additional 738 shares during the period. 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.