International Seaways (NYSE:INSW) Rating Reiterated by Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of International Seaways (NYSE:INSW) in a research note released on Wednesday morning, Benzinga reports. They currently have a $66.00 target price on the transportation company’s stock.

INSW has been the topic of a number of other research reports. StockNews.com upgraded shares of International Seaways from a hold rating to a buy rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of International Seaways from $62.00 to $66.00 and gave the company a buy rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus boosted their target price on shares of International Seaways from $68.00 to $72.00 and gave the company a buy rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $64.75.

International Seaways Stock Down 0.5 %

Shares of NYSE INSW opened at $49.12 on Wednesday. The company has a market capitalization of $2.43 billion, a P/E ratio of 4.59 and a beta of -0.06. International Seaways has a 52-week low of $40.11 and a 52-week high of $65.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. The company’s 50 day moving average price is $57.21 and its 200-day moving average price is $55.78.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The firm had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. During the same quarter last year, the firm posted $3.12 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities analysts forecast that International Seaways will post 10.12 earnings per share for the current year.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 1,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $64.90, for a total transaction of $64,900.00. Following the completion of the sale, the senior vice president now owns 47,887 shares in the company, valued at approximately $3,107,866.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP William F. Nugent sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total value of $194,100.00. Following the completion of the sale, the senior vice president now owns 54,803 shares in the company, valued at approximately $3,545,754.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Derek G. Solon sold 1,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $64.90, for a total transaction of $64,900.00. Following the completion of the sale, the senior vice president now owns 47,887 shares of the company’s stock, valued at approximately $3,107,866.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,167 shares of company stock worth $3,554,176. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of International Seaways

Institutional investors have recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of International Seaways in the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC bought a new position in International Seaways during the first quarter valued at about $27,000. Headlands Technologies LLC grew its position in International Seaways by 173.4% during the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after buying an additional 574 shares during the period. CWM LLC grew its position in International Seaways by 47.9% during the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after buying an additional 476 shares during the period. Finally, EntryPoint Capital LLC bought a new position in International Seaways during the first quarter valued at about $108,000. 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.