International Seaways’ (INSW) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of International Seaways (NYSE:INSW) in a research note issued to investors on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a $66.00 target price on the transportation company’s stock.

Other equities research analysts have also recently issued reports about the company. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and reduced their price target for the company 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Seaways presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.67.

International Seaways Stock Performance

INSW traded down $0.80 on Thursday, hitting $43.08. The company’s stock had a trading volume of 732,101 shares, compared to its average volume of 636,936. International Seaways has a 12 month low of $42.08 and a 12 month high of $65.94. The firm has a market cap of $2.14 billion, a P/E ratio of 4.16 and a beta of -0.06. 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’s 50 day simple moving average is $49.01 and its 200-day simple moving average is $54.30.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. During the same period last year, the company earned $1.99 earnings per share. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Analysts forecast that International Seaways will post 8.5 EPS for the current year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a yield of 12.26%. International Seaways’s 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 dated Thursday, October 31st. The stock was sold at an average price of $43.05, for a total value of $43,050.00. Following the completion of the sale, the senior vice president now owns 51,803 shares of the company’s stock, valued at approximately $2,230,119.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $43.05, for a total value of $43,050.00. Following the sale, the senior vice president now owns 51,803 shares of the company’s stock, valued at $2,230,119.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $7,779,265. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,000 shares of company stock worth $738,920. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Several hedge funds have recently made changes to their positions in INSW. EverSource Wealth Advisors LLC purchased a new position in International Seaways during the 1st quarter valued at $27,000. EdgeRock Capital LLC purchased a new position in shares of International Seaways during the second quarter valued at about $28,000. Blue Trust Inc. bought a new position in International Seaways in the third quarter worth about $41,000. Headlands Technologies LLC lifted its holdings in International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after buying an additional 574 shares during the period. Finally, KBC Group NV boosted its position in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 428 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.