International Seaways (NYSE:INSW) Cut to “Hold” at Stifel Nicolaus

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

Several other research analysts also recently commented on the company. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note 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 objective on shares of International Seaways in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.67.

International Seaways Stock Performance

NYSE INSW opened at $45.44 on Wednesday. The firm’s 50 day simple moving average is $50.40 and its 200 day simple moving average is $54.90. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 4.33 and a beta of -0.08. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. International Seaways has a 1 year low of $42.08 and a 1 year high of $65.94.

International Seaways (NYSE:INSW) last issued 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). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. During the same period in the prior year, the business posted $3.12 EPS. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, research analysts expect that International Seaways will post 9.31 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

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

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the sale, the senior vice president now directly owns 53,803 shares in the company, valued at $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 available at this hyperlink. In other 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 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 53,803 shares in the company, valued at approximately $2,754,175.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock valued at $751,840 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Trading of International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of International Seaways by 57.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock valued at $18,367,000 after purchasing an additional 147,740 shares during the last quarter. Vanguard Group Inc. boosted its position in International Seaways by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock valued at $168,279,000 after acquiring an additional 119,000 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in International Seaways during the 1st quarter worth about $203,000. Baker Ellis Asset Management LLC bought a new position in shares of International Seaways in the 1st quarter worth about $213,000. Finally, DMC Group LLC acquired a new position in shares of International Seaways in the 1st quarter valued at about $224,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.