International Seaways (NYSE:INSW) PT Raised to $68.00

International Seaways (NYSE:INSWFree Report) had its target price boosted by Stifel Nicolaus from $66.00 to $68.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities analysts have also issued reports on INSW. Jefferies Financial Group reiterated a buy rating and set a $66.00 target price on shares of International Seaways in a research report on Thursday, February 29th. StockNews.com raised shares of International Seaways from a hold rating to a buy rating in a research note on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of International Seaways from $62.00 to $66.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, International Seaways presently has an average rating of Buy and an average target price of $63.75.

View Our Latest Analysis on International Seaways

International Seaways Price Performance

Shares of INSW stock opened at $59.91 on Thursday. International Seaways has a 1 year low of $35.29 and a 1 year high of $65.94. The firm’s 50 day moving average is $59.19 and its 200-day moving average is $53.72. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 5.60 and a beta of -0.04. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.31.

International Seaways (NYSE:INSWGet Free Report) last announced its earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The company had revenue of $274.40 million for the quarter, compared to analyst estimates of $249.12 million. During the same period in the prior year, the business earned $3.30 earnings per share. International Seaways’s quarterly revenue was down 4.4% on a year-over-year basis. Sell-side analysts forecast that International Seaways will post 10.07 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 11.68%. The ex-dividend date is Wednesday, June 12th. This is an increase from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio is presently 4.49%.

Insider Buying and Selling at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the transaction, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the transaction, the chief financial officer now owns 69,010 shares in the company, valued at $3,684,443.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James D. Small III sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $55.20, for a total transaction of $414,000.00. Following the completion of the transaction, the chief accounting officer now owns 55,138 shares of the company’s stock, valued at approximately $3,043,617.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,879 shares of company stock valued at $4,336,583. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INSW. Donald Smith & CO. Inc. boosted its holdings in International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock worth $73,396,000 after purchasing an additional 318,962 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in International Seaways during the fourth quarter worth $14,399,000. Vanguard Group Inc. lifted its stake in International Seaways by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after acquiring an additional 286,295 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in International Seaways by 57.7% in the fourth 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 last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in International Seaways by 20.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after acquiring an additional 139,569 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

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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