International Seaways (NYSE:INSW) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research report report published on Wednesday.

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

International Seaways Stock Performance

NYSE INSW opened at $52.75 on Wednesday. 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 stock has a market cap of $2.58 billion, a price-to-earnings ratio of 4.69 and a beta of -0.05. International Seaways has a fifty-two week low of $34.77 and a fifty-two week high of $55.59. The business has a fifty day moving average of $52.60 and a 200-day moving average of $49.27.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating the consensus estimate 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 net margin of 51.92% and a return on equity of 32.03%. As a group, analysts predict that International Seaways will post 9.27 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. Shareholders of record on Thursday, March 14th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 9.10%. The ex-dividend date was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is 4.27%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.09, for a total value of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares of the company’s stock, valued at $4,361,927.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now owns 82,161 shares of the company’s stock, valued at $4,361,927.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 13,760 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the sale, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The disclosure for this sale can be found here. Insiders sold 58,846 shares of company stock valued at $3,073,978 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of International Seaways

A number of hedge funds have recently made changes to their positions in INSW. Millennium Management LLC acquired a new stake in shares of International Seaways during the second quarter worth approximately $17,047,000. Two Sigma Advisers LP lifted its stake in International Seaways by 2,140.5% during the fourth quarter. Two Sigma Advisers LP now owns 485,049 shares of the transportation company’s stock worth $17,957,000 after purchasing an additional 463,400 shares during the last quarter. Renaissance Technologies LLC bought a new position in International Seaways during the fourth quarter worth $13,907,000. Frontier Capital Management Co. LLC bought a new position in International Seaways during the first quarter worth $13,924,000. Finally, Donald Smith & CO. Inc. lifted its stake in International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock worth $73,396,000 after purchasing an additional 318,962 shares during the last quarter. Institutional investors and hedge funds 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.