International Seaways (NYSE:INSW) Given “Buy” Rating at Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of International Seaways (NYSE:INSW) in a research report released on Thursday,Benzinga reports. Jefferies Financial Group currently has a $66.00 price objective on the transportation company’s stock.

INSW has been the subject of a number of other research reports. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and lowered their price objective for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, International Seaways has an average rating of “Moderate Buy” and an average price target of $62.67.

International Seaways Stock Down 1.8 %

Shares of NYSE INSW traded down $0.80 during midday trading on Thursday, hitting $43.08. The stock had a trading volume of 732,101 shares, compared to its average volume of 636,936. The business’s 50 day moving average is $49.01 and its 200-day moving average is $54.30. International Seaways has a 52 week low of $42.08 and a 52 week high of $65.94. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.14 billion, a P/E ratio of 4.16 and a beta of -0.06.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The business had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same period last year, the business posted $1.99 EPS. The company’s revenue was down 6.8% compared to the same quarter last year. As a group, analysts predict that International Seaways will post 8.5 EPS for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 12.26%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is presently 4.64%.

Insider Buying and Selling

In other news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the sale, the senior vice president now owns 53,803 shares of the company’s stock, valued at $2,754,175.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $51.19, for a total value of $51,190.00. Following the completion of the sale, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at approximately $2,754,175.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.40, for a total transaction of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares in the company, valued at approximately $7,779,265. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,000 shares of company stock valued at $738,920. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On International Seaways

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC bought a new position in shares of International Seaways during the second quarter worth $21,875,000. Vanguard Group Inc. boosted its holdings in shares of International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after purchasing an additional 286,295 shares during the last quarter. American Century Companies Inc. grew its position in shares of International Seaways by 25.7% during the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after purchasing an additional 252,492 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of International Seaways in the second quarter worth about $8,781,000. Finally, Boston Partners lifted its position in shares of International Seaways by 433.9% in the first quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock worth $8,718,000 after buying an additional 133,102 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

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.