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

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

INSW has been the subject of several other research reports. Stifel Nicolaus upped their price target on shares of International Seaways from $63.00 to $64.00 and gave the company a buy rating in a research report on Friday, April 19th. 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

Shares of INSW stock opened at $55.29 on Friday. The stock’s 50-day moving average is $52.92 and its two-hundred day moving average is $49.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. International Seaways has a 1 year low of $34.77 and a 1 year high of $56.14. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 4.91 and a beta of -0.05.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Analysts predict that International Seaways will post 9.33 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $1.20 per share. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 8.68%. International Seaways’s dividend payout ratio (DPR) is 4.27%.

Insider Activity

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the completion of the transaction, the chief financial officer now directly owns 82,161 shares in the company, valued at approximately $4,361,927.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the transaction, the chief financial officer now owns 82,161 shares in the company, valued at $4,361,927.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the director now 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 have sold 58,846 shares of company stock worth $3,073,978 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently bought and sold shares of the business. Bfsg LLC acquired a new stake in shares of International Seaways in the fourth quarter valued at about $167,000. Los Angeles Capital Management LLC purchased a new stake in shares of International Seaways during the first quarter worth about $203,000. Baker Ellis Asset Management LLC acquired a new position in shares of International Seaways in the first quarter worth about $213,000. DMC Group LLC purchased a new position in shares of International Seaways during the 1st quarter valued at approximately $224,000. Finally, Cim LLC acquired a new stake in International Seaways in the fourth quarter valued at $192,000. 67.29% of the stock is currently 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.