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

StockNews.com lowered shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

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

International Seaways Stock Performance

NYSE INSW opened at $53.03 on Wednesday. The business’s 50-day moving average price is $52.64 and its 200 day moving average price is $49.36. International Seaways has a twelve month low of $34.77 and a twelve month high of $55.59. The company has a market capitalization of $2.59 billion, a PE ratio of 4.71 and a beta of -0.05. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The firm had revenue of $250.73 million for the quarter, compared to the consensus estimate of $239.36 million. On average, research analysts predict that International Seaways will post 9.27 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 9.05%. International Seaways’s dividend payout ratio is presently 4.27%.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the sale, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the sale, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lois K. Zabrocky sold 13,760 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now 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. Over the last quarter, insiders sold 58,846 shares of company stock worth $3,073,978. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

A number of hedge funds have recently bought and sold shares of INSW. Millennium Management LLC acquired a new stake in International Seaways during the 2nd quarter valued at approximately $17,047,000. Two Sigma Advisers LP grew its stake in International Seaways by 2,140.5% during the 4th quarter. Two Sigma Advisers LP now owns 485,049 shares of the transportation company’s stock valued at $17,957,000 after purchasing an additional 463,400 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in International Seaways during the 4th quarter valued at approximately $13,907,000. Frontier Capital Management Co. LLC acquired a new stake in International Seaways during the 1st quarter valued at approximately $13,924,000. Finally, Donald Smith & CO. Inc. grew its stake in International Seaways by 24.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock valued at $73,396,000 after purchasing an additional 318,962 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

About International Seaways

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.