Jefferies Financial Group Issues Pessimistic Forecast for International Seaways (NYSE:INSW) Stock Price

International Seaways (NYSE:INSW) had its target price reduced by Jefferies Financial Group from $66.00 to $60.00 in a report released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the transportation company’s stock.

Several other research firms have also issued reports on INSW. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and dropped their target price for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Price Performance

Shares of NYSE INSW opened at $41.23 on Thursday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 3.98 and a beta of -0.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.87 and a current ratio of 3.60. International Seaways has a fifty-two week low of $41.22 and a fifty-two week high of $65.94. The firm’s 50-day simple moving average is $48.20 and its 200 day simple moving average is $53.85.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. During the same quarter last year, the company earned $1.99 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, research analysts anticipate that International Seaways will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 12.81%. 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%.

Insiders Place Their Bets

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now owns 16,109 shares in the company, valued at approximately $792,079.53. This represents a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Derek G. Solon sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.75, for a total value of $49,750.00. Following the completion of the sale, the senior vice president now owns 46,887 shares in the company, valued at $2,332,628.25. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,000 shares of company stock valued at $640,120. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after buying an additional 414,610 shares in the last quarter. Millennium Management LLC bought a new stake in International Seaways during the 2nd quarter valued at $21,875,000. Vanguard Group Inc. lifted its position in shares of International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after acquiring an additional 286,295 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of International Seaways by 25.7% in the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after acquiring an additional 252,492 shares during the period. Finally, Barclays PLC grew its position in shares of International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after purchasing an additional 174,695 shares in the last quarter. 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.