International Seaways (NYSE:INSW) Rating Lowered to Hold at Stifel Nicolaus

Stifel Nicolaus downgraded shares of International Seaways (NYSE:INSW - Free Report) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat reports. The brokerage currently has $56.00 price objective on the transportation company's stock, down from their previous price objective of $69.00.

A number of other brokerages have also commented on INSW. StockNews.com lowered shares of International Seaways from a "buy" rating to a "hold" rating in a report on Thursday, August 8th. Fearnley Fonds raised shares of International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $66.00 price target on shares of International Seaways in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.67.

International Seaways Price Performance

International Seaways stock traded down $2.92 during midday trading on Wednesday, reaching $45.07. 1,352,735 shares of the stock were exchanged, compared to its average volume of 575,526. The company's fifty day moving average is $50.62 and its 200-day moving average is $55.02. 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 firm has a market cap of $2.23 billion, a PE ratio of 4.21 and a beta of -0.08. International Seaways has a 52 week low of $42.08 and a 52 week high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last posted its 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 firm 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 business's revenue was down 11.9% on a year-over-year basis. During the same period last year, the company posted $3.12 EPS. On average, sell-side analysts forecast that International Seaways will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The firm also recently disclosed 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 of this dividend was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. International Seaways's dividend payout ratio (DPR) is 4.49%.

Insider Buying and Selling

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the business's stock in a transaction dated 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 owns 16,109 shares of the company's stock, valued at approximately $792,079.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares in the company, valued at $792,079.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the sale, the chief financial officer now owns 38,849 shares of the company's stock, valued at $2,174,378.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,000 shares of company stock worth $751,840 in the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

Several institutional investors have recently bought and sold shares of INSW. Goldman Sachs Group Inc. boosted its holdings in International Seaways by 57.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company's stock valued at $18,367,000 after acquiring an additional 147,740 shares during the period. Vanguard Group Inc. raised its position in International Seaways by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company's stock valued at $168,279,000 after purchasing an additional 119,000 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in International Seaways during the 1st quarter valued at approximately $203,000. Baker Ellis Asset Management LLC bought a new position in International Seaways during the 1st quarter valued at approximately $213,000. Finally, DMC Group LLC bought a new position in International Seaways during the 1st quarter valued at approximately $224,000. 67.29% of the stock is currently owned by hedge funds and other 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.