International Seaways (NYSE:INSW) PT Raised to $68.00

International Seaways (NYSE:INSWFree Report) had its price objective lifted by Stifel Nicolaus from $66.00 to $68.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities research analysts have also weighed in on INSW. StockNews.com upgraded shares of International Seaways from a hold rating to a buy rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of International Seaways from $62.00 to $66.00 and gave the stock a buy rating in a report on Thursday, May 9th. Finally, Jefferies Financial Group restated a buy rating and issued a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $63.75.

View Our Latest Research Report on International Seaways

International Seaways Trading Up 2.1 %

Shares of International Seaways stock opened at $59.91 on Thursday. International Seaways has a 1 year low of $35.29 and a 1 year high of $65.94. The firm has a market cap of $2.96 billion, a PE ratio of 5.60 and a beta of -0.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.73 and a quick ratio of 2.72. The company has a 50 day simple moving average of $59.19 and a two-hundred day simple moving average of $53.72.

International Seaways (NYSE:INSWGet Free Report) last announced its earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The business had revenue of $274.40 million during the quarter, compared to analyst estimates of $249.12 million. During the same period in the previous year, the business posted $3.30 earnings per share. International Seaways’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts expect that International Seaways will post 10.07 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a dividend of $1.75 per share. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 dividend on an annualized basis and a yield of 11.68%. The ex-dividend date is Wednesday, June 12th. International Seaways’s dividend payout ratio is currently 4.49%.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total transaction of $194,100.00. Following the completion of the sale, the senior vice president now directly owns 54,803 shares in the company, valued at approximately $3,545,754.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP William F. Nugent sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total transaction of $194,100.00. Following the completion of the sale, the senior vice president now directly owns 54,803 shares in the company, valued at approximately $3,545,754.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Derek G. Solon sold 1,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $64.90, for a total transaction of $64,900.00. Following the sale, the senior vice president now owns 47,887 shares of the company’s stock, valued at $3,107,866.30. The disclosure for this sale can be found here. Insiders sold 70,879 shares of company stock worth $4,336,583 in the last three months. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On International Seaways

A number of institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new stake in International Seaways during the 1st quarter valued at approximately $27,000. Boston Partners boosted its position in shares of International Seaways by 433.9% during the first quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock valued at $8,718,000 after purchasing an additional 133,102 shares in the last quarter. Verity Asset Management Inc. boosted its position in shares of International Seaways by 29.5% during the first quarter. Verity Asset Management Inc. now owns 11,904 shares of the transportation company’s stock valued at $633,000 after purchasing an additional 2,709 shares in the last quarter. Tidal Investments LLC boosted its position in shares of International Seaways by 20.6% during the first quarter. Tidal Investments LLC now owns 36,097 shares of the transportation company’s stock valued at $1,920,000 after purchasing an additional 6,166 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of International Seaways by 36.0% during the first quarter. Janus Henderson Group PLC now owns 21,909 shares of the transportation company’s stock valued at $1,165,000 after purchasing an additional 5,802 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

International Seaways Company Profile

(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.

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