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

StockNews.com downgraded shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a report released on Thursday morning.

A number of other research firms also recently commented on INSW. Stifel Nicolaus boosted their target price on shares of International Seaways from $68.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price objective on International Seaways from $62.00 to $66.00 and gave the company a buy rating in a research report on Thursday, May 9th. Finally, Jefferies Financial Group restated a buy rating and issued a $66.00 target price on shares of International Seaways in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Seaways presently has an average rating of Moderate Buy and a consensus price target of $64.75.

International Seaways Stock Performance

Shares of INSW opened at $49.12 on Thursday. The firm has a market capitalization of $2.43 billion, a PE ratio of 4.59 and a beta of -0.06. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $57.21 and a 200 day moving average price of $55.80. International Seaways has a 52-week low of $40.11 and a 52-week high of $65.94.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 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 the consensus estimate of $256.13 million. During the same period in the prior year, the firm posted $3.12 EPS. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that International Seaways will post 10.12 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th will be given a $0.12 dividend. 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 payout ratio is 4.49%.

Insider Buying and Selling at International Seaways

In other news, Director Joseph Isaac Kronsberg sold 5,035 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $62.30, for a total value of $313,680.50. Following the transaction, the director now directly owns 6,725 shares of the company’s stock, valued at $418,967.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP William F. Nugent sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Isaac Kronsberg sold 5,035 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $62.30, for a total value of $313,680.50. Following the transaction, the director now owns 6,725 shares in the company, valued at approximately $418,967.50. The disclosure for this sale can be found here. Insiders sold 58,067 shares of company stock valued at $3,547,966 in the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new position in International Seaways during the first quarter worth $27,000. EdgeRock Capital LLC bought a new position in shares of International Seaways during the 2nd quarter worth about $28,000. Headlands Technologies LLC increased its holdings in shares of International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the period. CWM LLC raised its position in shares of 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 last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of International Seaways in the first quarter valued at about $108,000. 67.29% of the stock is owned by 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.