International Seaways (NYSE:INSW) Stock Rating Reaffirmed by Jefferies Financial Group

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

Several other research firms also recently issued reports on INSW. Deutsche Bank Aktiengesellschaft lifted their price target on International Seaways from $62.00 to $66.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Stifel Nicolaus lifted their price target on International Seaways from $68.00 to $72.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Finally, StockNews.com raised International Seaways from a hold rating to a buy rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $64.75.

International Seaways Price Performance

Shares of NYSE:INSW traded down $0.23 during midday trading on Wednesday, hitting $49.12. 638,734 shares of the stock were exchanged, compared to its average volume of 567,017. The stock has a market cap of $2.43 billion, a P/E ratio of 4.59 and a beta of -0.06. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.31. International Seaways has a twelve month low of $40.11 and a twelve month high of $65.94. The company has a 50 day moving average price of $57.21 and a 200-day moving average price of $55.78.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.13). The firm had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the firm earned $3.12 EPS. On average, research analysts forecast that International Seaways will post 10.12 earnings per share for the current year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, September 11th. International Seaways’s dividend payout ratio is presently 4.49%.

Insider Buying and Selling

In other International Seaways news, CFO Jeffrey Pribor sold 35,000 shares of International Seaways stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $62.37, for a total value of $2,182,950.00. Following the completion of the sale, the chief financial officer now owns 40,849 shares in the company, valued at approximately $2,547,752.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other International Seaways news, CFO Jeffrey Pribor sold 35,000 shares of International Seaways stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $62.37, for a total value of $2,182,950.00. Following the completion of the sale, the chief financial officer now owns 40,849 shares in the company, valued at approximately $2,547,752.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Derek G. Solon sold 1,000 shares of International Seaways stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $64.90, for a total value of $64,900.00. Following the completion of the sale, the senior vice president now owns 47,887 shares of the company’s stock, valued at approximately $3,107,866.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,167 shares of company stock worth $3,554,176. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

Several hedge funds and other institutional investors have recently modified their holdings of INSW. EverSource Wealth Advisors LLC acquired a new position in shares of International Seaways in the 1st quarter valued at about $27,000. EdgeRock Capital LLC acquired a new position in shares of International Seaways in the 2nd quarter valued at about $28,000. Headlands Technologies LLC lifted its stake in shares of International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 574 shares in the last quarter. CWM LLC lifted its stake in shares of International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 476 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of International Seaways in the 1st quarter valued at about $108,000. 67.29% of the stock is owned by institutional investors and hedge funds.

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.