International Seaways (NYSE:INSW) Downgraded by Stifel Nicolaus to “Hold”

Stifel Nicolaus lowered shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a report published on Wednesday morning, MarketBeat Ratings reports. Stifel Nicolaus currently has $56.00 target price on the transportation company’s stock, down from their previous target price of $69.00.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Wednesday, August 7th. Finally, Fearnley Fonds raised International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.67.

International Seaways Trading Up 1.0 %

INSW stock opened at $45.44 on Wednesday. International Seaways has a 1-year low of $42.08 and a 1-year high of $65.94. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $50.40 and its 200-day moving average is $54.93. The firm has a market cap of $2.26 billion, a P/E ratio of 4.33 and a beta of -0.08.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The company had revenue of $257.40 million during the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business’s revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $3.12 earnings per share. Equities analysts anticipate that International Seaways will post 9.31 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Wednesday, September 11th. International Seaways’s dividend payout ratio is currently 4.57%.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, August 30th. The stock was sold at an average price of $51.19, for a total value of $51,190.00. Following the completion of the sale, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at approximately $2,754,175.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $51.19, for a total value of $51,190.00. Following the transaction, the senior vice president now owns 53,803 shares of the company’s stock, valued at approximately $2,754,175.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.40, for a total transaction of $98,800.00. Following the sale, the chief executive officer now directly owns 157,475 shares of the company’s stock, valued at approximately $7,779,265. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,000 shares of company stock valued at $751,840. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

A number of institutional investors have recently made changes to their positions in INSW. Bailard Inc. boosted its holdings in International Seaways by 2.4% during the second quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock worth $752,000 after buying an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after acquiring an additional 305 shares during the last quarter. Consolidated Portfolio Review Corp increased its stake in International Seaways by 3.9% in the second quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock valued at $492,000 after purchasing an additional 312 shares in the last quarter. CWM LLC increased its stake in International Seaways by 47.9% in the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 476 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in International Seaways in the second quarter worth $28,000. 67.29% of the stock is owned by institutional investors and hedge funds.

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.