International Seaways (NYSE:INSW) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research note published on Sunday morning.

Several other research firms have also issued reports on INSW. Pareto Securities lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.67.

International Seaways Price Performance

NYSE:INSW opened at $48.60 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $49.96 and its 200 day moving average price is $44.83. International Seaways has a 52-week low of $27.20 and a 52-week high of $55.18. The firm has a market cap of $2.40 billion, a P/E ratio of 11.07 and a beta of -0.20.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The business had revenue of $84.82 million for the quarter. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. As a group, sell-side analysts predict that International Seaways will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.0%. International Seaways’s dividend payout ratio is presently 10.93%.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 3,500 shares of International Seaways stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $53.71, for a total transaction of $187,985.00. Following the transaction, the senior vice president owned 49,393 shares of the company’s stock, valued at $2,652,898.03. The trade was a 6.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO James D. Small III sold 20,000 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $53.60, for a total value of $1,072,000.00. Following the completion of the transaction, the chief accounting officer owned 49,292 shares in the company, valued at $2,642,051.20. This represents a 28.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 29,500 shares of company stock worth $1,553,445. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSW. Federated Hermes Inc. lifted its position in International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after buying an additional 378 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of International Seaways during the third quarter worth $53,000. EverSource Wealth Advisors LLC boosted its position in International Seaways by 601.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 1,293 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 1,542 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in International Seaways in the 3rd quarter worth about $64,000. 67.29% of the stock is owned by hedge funds and other 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.