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

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

A number of other equities research analysts also recently commented on INSW. Jefferies Financial Group reiterated a buy rating and issued a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. Stifel Nicolaus upped their price objective on International Seaways from $63.00 to $64.00 and gave the company a buy rating in a report on Friday, April 19th.

International Seaways Trading Up 1.0 %

INSW stock opened at $55.13 on Friday. The company has a market cap of $2.70 billion, a P/E ratio of 4.90 and a beta of -0.05. International Seaways has a twelve month low of $34.77 and a twelve month high of $55.59. 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 business has a fifty day moving average of $52.78 and a 200-day moving average of $49.79.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 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 research analysts expect that International Seaways will post 9.33 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 8.71%. International Seaways’s dividend payout ratio (DPR) is currently 4.27%.

Insiders Place Their Bets

In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the sale, the director now directly owns 19,098 shares in the company, valued at $1,013,912.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Douglas D. Wheat sold 3,846 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,334,588.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the transaction, the director now directly owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The disclosure for this sale can be found here. Insiders sold 58,846 shares of company stock worth $3,073,978 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of International Seaways by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock worth $168,279,000 after buying an additional 119,000 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of International Seaways by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock worth $145,464,000 after buying an additional 122,642 shares during the period. Donald Smith & CO. Inc. boosted its position in shares of 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 buying an additional 318,962 shares during the period. Hosking Partners LLP boosted its position in shares of 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 buying an additional 161,643 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in shares of International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock worth $36,869,000 after buying an additional 139,569 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

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.