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

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

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

International Seaways Trading Down 0.5 %

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

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (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 business had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. During the same period in the previous year, the business posted $3.12 earnings per share. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities research analysts expect that International Seaways will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, September 11th. International Seaways’s dividend payout ratio is presently 4.49%.

Insider Activity at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total transaction of $55,970.00. Following the completion of the transaction, the chief financial officer now owns 38,849 shares in the company, valued at approximately $2,174,378.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $49.40, for a total value of $98,800.00. Following the transaction, the chief executive officer now directly owns 157,475 shares of the company’s stock, valued at approximately $7,779,265. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $55.97, for a total value of $55,970.00. Following the transaction, the chief financial officer now directly owns 38,849 shares in the company, valued at approximately $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 valued at $602,160 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INSW. Magnetar Financial LLC acquired a new position in shares of International Seaways in the 1st quarter valued at $2,604,000. SG Americas Securities LLC grew its holdings in shares of International Seaways by 102.1% during the second quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock worth $1,247,000 after buying an additional 10,652 shares during the last quarter. GeoSphere Capital Management LLC acquired a new position in International Seaways in the 4th quarter valued at about $2,501,000. BNP Paribas Financial Markets increased its position in International Seaways by 101.5% in the 1st quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock valued at $1,838,000 after acquiring an additional 17,399 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC purchased a new stake in International Seaways during the 1st quarter valued at approximately $1,735,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.