International Seaways (NYSE:INSW) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of International Seaways (NYSE:INSWGet Rating) in a research report sent to investors on Wednesday morning, The Fly reports. The brokerage issued a buy rating and a $27.00 price objective on the transportation company’s stock. Jefferies Financial Group also issued estimates for International Seaways’ Q4 2022 earnings at $0.59 EPS.

A number of other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of International Seaways to a sell rating in a research report on Tuesday, April 19th. B. Riley reaffirmed a buy rating on shares of International Seaways in a research report on Tuesday, February 8th. Finally, Zacks Investment Research upgraded shares of International Seaways from a sell rating to a hold rating in a research note on Tuesday, March 29th.

NYSE:INSW opened at $21.13 on Wednesday. International Seaways has a 52 week low of $13.05 and a 52 week high of $22.98. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.79. The firm’s fifty day moving average is $18.70 and its 200-day moving average is $16.83.

International Seaways (NYSE:INSWGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The transportation company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.13). The business had revenue of $94.67 million for the quarter, compared to analyst estimates of $101.84 million. International Seaways had a negative return on equity of 7.94% and a negative net margin of 48.98%. During the same quarter in the previous year, the business posted ($0.52) earnings per share. On average, research analysts forecast that International Seaways will post 0.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 28th. Stockholders of record on Monday, March 14th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, March 11th. This represents a $0.24 annualized dividend and a dividend yield of 1.14%. International Seaways’s payout ratio is -7.34%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC boosted its holdings in International Seaways by 10.2% during the first quarter. Thompson Siegel & Walmsley LLC now owns 594,754 shares of the transportation company’s stock worth $10,729,000 after purchasing an additional 54,890 shares during the last quarter. Pendal Group Ltd lifted its position in shares of International Seaways by 6.6% during the 1st quarter. Pendal Group Ltd now owns 561,389 shares of the transportation company’s stock worth $10,127,000 after buying an additional 34,563 shares in the last quarter. Harvey Capital Management Inc. purchased a new position in shares of International Seaways in the 1st quarter worth approximately $1,258,000. Lesa Sroufe & Co grew its holdings in shares of International Seaways by 5.4% in the first quarter. Lesa Sroufe & Co now owns 132,344 shares of the transportation company’s stock valued at $1,931,000 after acquiring an additional 6,744 shares in the last quarter. Finally, Foundry Partners LLC grew its holdings in shares of International Seaways by 11.9% in the first quarter. Foundry Partners LLC now owns 228,695 shares of the transportation company’s stock valued at $4,126,000 after acquiring an additional 24,325 shares in the last quarter. Institutional investors and hedge funds own 74.04% of the company’s stock.

About International Seaways (Get Rating)

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, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.

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