International Seaways (NYSE:INSW) Upgraded by Fearnley Fonds to “Strong-Buy”

Fearnley Fonds upgraded shares of International Seaways (NYSE:INSW) to a strong-buy rating in a research note issued to investors on Friday, Zacks.com reports.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group restated a buy rating and issued a $66.00 price objective on shares of International Seaways in a report on Wednesday, August 7th. StockNews.com downgraded International Seaways from a buy rating to a hold rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus increased their price objective on International Seaways from $68.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Buy and an average target price of $68.00.

International Seaways Price Performance

Shares of INSW opened at $51.56 on Friday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 4.82 and a beta of -0.07. International Seaways has a fifty-two week low of $40.68 and a fifty-two week high of $65.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. The business’s 50-day moving average is $51.22 and its 200-day moving average is $55.31.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. During the same quarter in the prior year, the company posted $3.12 EPS. The company’s quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts expect that International Seaways will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 annualized dividend and a yield of 0.93%. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $55.97, for a total transaction of $55,970.00. Following the transaction, the chief financial officer now owns 38,849 shares in the company, valued at $2,174,378.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares of the company’s stock, valued at $792,079.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the completion of the sale, the chief financial officer now directly owns 38,849 shares of the company’s stock, valued at $2,174,378.53. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $602,160 over the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of International Seaways in the second quarter valued at approximately $8,781,000. Point72 DIFC Ltd bought a new position in International Seaways in the second quarter worth $157,000. Gordian Capital Singapore Pte Ltd bought a new position in International Seaways in the second quarter worth $742,000. Point72 Asset Management L.P. lifted its position in International Seaways by 75.5% in the second quarter. Point72 Asset Management L.P. now owns 8,600 shares of the transportation company’s stock worth $509,000 after purchasing an additional 3,700 shares during the period. Finally, Quarry LP lifted its position in International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares during the period. 67.29% of the stock is owned by institutional investors.

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.