International Seaways (NYSE:INSW) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of International Seaways (NYSE:INSW – Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other brokerages have also issued reports on INSW. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Pareto Securities cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, International Seaways currently has an average rating of “Moderate Buy” and a consensus target price of $52.67.

Check Out Our Latest Analysis on International Seaways

International Seaways Price Performance

International Seaways stock opened at $51.52 on Friday. The business’s fifty day moving average is $49.74 and its two-hundred day moving average is $44.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $2.54 billion, a P/E ratio of 11.74 and a beta of -0.20. International Seaways has a 52 week low of $27.20 and a 52 week high of $55.18.

International Seaways (NYSE:INSW – Get Free Report) last announced its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The business had revenue of $84.82 million during the quarter. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. Equities research analysts forecast that International Seaways will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 9th. International Seaways’s payout ratio is currently 10.93%.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, November 17th. The stock was sold at an average price of $53.58, for a total transaction of $53,580.00. Following the completion of the sale, the chief financial officer directly owned 71,734 shares of the company’s stock, valued at $3,843,507.72. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO James D. Small III sold 20,000 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $53.60, for a total value of $1,072,000.00. Following the completion of the sale, the chief accounting officer owned 49,292 shares of the company’s stock, valued at $2,642,051.20. This represents a 28.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,500 shares of company stock worth $1,699,875. 2.00% of the stock is currently owned by insiders.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC raised its position in shares of International Seaways by 250.7% in the 1st quarter. LPL Financial LLC now owns 45,856 shares of the transportation company’s stock valued at $1,522,000 after acquiring an additional 32,781 shares during the period. PNC Financial Services Group Inc. raised its holdings in International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock worth $60,000 after purchasing an additional 1,542 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of International Seaways by 17.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 544,202 shares of the transportation company’s stock worth $18,068,000 after purchasing an additional 80,591 shares in the last quarter. Swiss National Bank grew its holdings in shares of International Seaways by 3.7% in the 1st quarter. Swiss National Bank now owns 81,000 shares of the transportation company’s stock valued at $2,689,000 after buying an additional 2,900 shares during the period. Finally, Cynosure Group LLC grew its holdings in shares of International Seaways by 15.6% in the 1st quarter. Cynosure Group LLC now owns 9,932 shares of the transportation company’s stock valued at $330,000 after buying an additional 1,339 shares during the period. 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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