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 report published on Friday, Zacks.com reports.

Other analysts also recently issued reports about the company. Jefferies Financial Group reiterated a buy rating and set a $66.00 target price on shares of International Seaways in a research report on Wednesday, August 7th. StockNews.com cut shares of International Seaways from a buy rating to a hold rating in a research report on Thursday, August 8th. Finally, Stifel Nicolaus increased their price objective on shares of International Seaways from $68.00 to $72.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. One 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 data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $68.00.

International Seaways Price Performance

Shares of International Seaways stock opened at $51.56 on Friday. 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 stock 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 twelve month low of $40.68 and a twelve month high of $65.94. The company has a 50-day simple moving average of $51.22 and a two-hundred day simple moving average of $55.31.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.13). The business had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.12 earnings per share. Analysts forecast that International Seaways will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

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

Insider Transactions at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $50.30, for a total value of $100,600.00. Following the sale, the chief executive officer now directly owns 155,475 shares of the company’s stock, valued at $7,820,392.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now directly owns 16,109 shares in the company, valued at $792,079.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $50.30, for a total value of $100,600.00. Following the completion of the transaction, the chief executive officer now owns 155,475 shares of the company’s stock, valued at $7,820,392.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,000 shares of company stock valued at $602,160. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in International Seaways in the 2nd quarter valued at approximately $21,875,000. Vanguard Group Inc. raised its position in International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after purchasing an additional 286,295 shares during the last quarter. American Century Companies Inc. lifted its holdings in International Seaways by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after buying an additional 252,492 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in International Seaways during the 2nd quarter worth about $8,781,000. Finally, Goldman Sachs Group Inc. grew its position in shares of International Seaways by 57.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock valued at $18,367,000 after buying an additional 147,740 shares during the last quarter. 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.