International Seaways (NYSE:INSW) Price Target Raised to $64.00 at Stifel Nicolaus

International Seaways (NYSE:INSW) had its price target raised by Stifel Nicolaus from $63.00 to $64.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

A number of other brokerages also recently weighed in on INSW. StockNews.com downgraded International Seaways from a buy rating to a hold rating in a report on Wednesday, April 17th. Jefferies Financial Group reissued a buy rating and issued a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th.

International Seaways Price Performance

Shares of INSW opened at $53.60 on Friday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 4.76 and a beta of -0.05. International Seaways has a fifty-two week low of $34.77 and a fifty-two week high of $55.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. The business’s 50-day moving average is $52.64 and its 200-day moving average is $49.46.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. The company had revenue of $250.73 million for the quarter, compared to the consensus estimate of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. Equities research analysts expect that International Seaways will post 9.42 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 8.96%. International Seaways’s payout ratio is 4.27%.

Insider Activity at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $53.09, for a total transaction of $318,540.00. Following the completion of the sale, the director now owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other International Seaways news, Director Alexandra Kate Blankenship sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $53.09, for a total transaction of $318,540.00. Following the completion of the sale, the director now owns 19,098 shares of the company’s stock, valued at $1,013,912.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the sale, the chief financial officer now directly owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently added to or reduced their stakes in INSW. U S Global Investors Inc. bought a new stake in shares of International Seaways in the third quarter valued at approximately $78,000. Counterpoint Mutual Funds LLC bought a new stake in shares of International Seaways in the third quarter valued at approximately $113,000. Bfsg LLC bought a new stake in shares of International Seaways in the fourth quarter valued at approximately $167,000. Cim LLC bought a new stake in shares of International Seaways in the fourth quarter valued at approximately $192,000. Finally, Peterson Wealth Services bought a new stake in shares of International Seaways in the fourth quarter valued at approximately $203,000. Institutional investors 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.