StockNews.com Begins Coverage on International Seaways (NYSE:INSW)

Posted by Michael Baxter on Mar 19th, 2023

StockNews.com started coverage on shares of International Seaways (NYSE:INSW – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating on the transportation company’s stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group raised their price objective on shares of International Seaways from $55.00 to $64.00 and gave the stock a buy rating in a research report on Tuesday, February 28th. Deutsche Bank Aktiengesellschaft increased their target price on International Seaways from $50.00 to $58.00 and gave the stock a buy rating in a report on Monday, March 6th. Finally, B. Riley increased their target price on International Seaways from $60.00 to $70.00 in a report on Wednesday, March 1st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $56.40.

International Seaways Stock Performance

Shares of INSW stock opened at $40.72 on Thursday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 5.22 and a beta of 0.04. International Seaways has a 52 week low of $16.36 and a 52 week high of $53.25. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $42.87 and a 200-day moving average of $39.94.

International Seaways (NYSE:INSW – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The transportation company reported $4.21 EPS for the quarter, topping the consensus estimate of $3.84 by $0.37. The company had revenue of $338.16 million during the quarter, compared to the consensus estimate of $311.42 million. International Seaways had a net margin of 44.86% and a return on equity of 29.13%. On average, equities analysts forecast that International Seaways will post 8.38 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, March 14th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, March 13th. This is a boost from International Seaways’s previous quarterly dividend of $1.12. This represents a $8.00 annualized dividend and a yield of 19.65%. International Seaways’s dividend payout ratio (DPR) is 6.15%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the chief financial officer now directly owns 65,594 shares in the company, valued at approximately $2,564,725.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $39.10, for a total transaction of $39,100.00. Following the transaction, the chief financial officer now directly owns 65,594 shares in the company, valued at approximately $2,564,725.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David I. Greenberg sold 7,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $51.45, for a total value of $360,150.00. Following the transaction, the director now owns 24,272 shares in the company, valued at $1,248,794.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,400 shares of company stock worth $2,058,104. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in shares of International Seaways during the 3rd quarter valued at $28,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of International Seaways during the 4th quarter valued at $46,000. Point72 Hong Kong Ltd purchased a new stake in shares of International Seaways during the 3rd quarter valued at $45,000. Wells Fargo & Company MN increased its position in shares of International Seaways by 29.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 384 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of International Seaways during the 4th quarter valued at $74,000. 84.39% of the stock is owned by hedge funds and other institutional investors.

About International Seaways

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.