International Seaways (NYSE:INSW) Trading Up 4.9% Following Analyst Upgrade

International Seaways, Inc. (NYSE:INSWGet Free Report)’s share price rose 4.9% during trading on Thursday after Stifel Nicolaus raised their price target on the stock from $66.00 to $68.00. Stifel Nicolaus currently has a buy rating on the stock. International Seaways traded as high as $59.36 and last traded at $59.23. Approximately 300,534 shares changed hands during trading, a decline of 45% from the average daily volume of 543,642 shares. The stock had previously closed at $56.45.

Several other analysts have also issued reports on the company. StockNews.com upgraded International Seaways from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $63.75.

Check Out Our Latest Research Report on INSW

Insider Transactions at International Seaways

In other news, VP Adewale Oshodi sold 6,212 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $62.06, for a total value of $385,516.72. Following the completion of the transaction, the vice president now directly owns 6,326 shares in the company, valued at approximately $392,591.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP William F. Nugent sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total value of $194,100.00. Following the completion of the sale, the senior vice president now owns 54,803 shares of the company’s stock, valued at approximately $3,545,754.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Adewale Oshodi sold 6,212 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $62.06, for a total value of $385,516.72. Following the completion of the sale, the vice president now directly owns 6,326 shares of the company’s stock, valued at approximately $392,591.56. The disclosure for this sale can be found here. In the last three months, insiders sold 70,879 shares of company stock worth $4,336,583. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new position in International Seaways during the 1st quarter valued at approximately $27,000. Headlands Technologies LLC raised its position 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 worth $48,000 after acquiring an additional 574 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of International Seaways in the 1st quarter worth approximately $108,000. Bfsg LLC bought a new position in shares of International Seaways in the 4th quarter worth approximately $167,000. Finally, U S Global Investors Inc. raised its position in shares of International Seaways by 144.5% in the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock worth $192,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

The stock has a market cap of $2.92 billion, a P/E ratio of 5.41 and a beta of -0.04. The firm has a 50-day moving average price of $58.93 and a 200-day moving average price of $53.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73.

International Seaways (NYSE:INSWGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.54. The company had revenue of $274.40 million for the quarter, compared to the consensus estimate of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.30 EPS. On average, analysts forecast that International Seaways, Inc. will post 10.07 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 11.82%. This is an increase from International Seaways’s previous quarterly dividend of $1.20. The ex-dividend date is Wednesday, June 12th. International Seaways’s dividend payout ratio (DPR) is currently 4.49%.

About International Seaways

(Get Free Report)

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.

Read More

Receive News & Ratings for International Seaways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways and related companies with MarketBeat.com's FREE daily email newsletter.