Jefferies Financial Group Cuts International Seaways (NYSE:INSW) Price Target to $60.00

International Seaways (NYSE:INSW) had its price target trimmed by Jefferies Financial Group from $66.00 to $60.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

INSW has been the topic of several other research reports. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two equities 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 company’s stock. According to data from MarketBeat.com, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Price Performance

NYSE:INSW opened at $41.23 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.87. The stock has a market cap of $2.03 billion, a P/E ratio of 3.98 and a beta of -0.06. The company has a fifty day moving average price of $48.20 and a 200 day moving average price of $53.86. International Seaways has a one year low of $41.22 and a one year high of $65.94.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. During the same quarter in the prior year, the business earned $1.99 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Analysts anticipate that International Seaways will post 7.92 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 12.81%. The ex-dividend date is Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Insider Activity at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $43.05, for a total transaction of $43,050.00. Following the completion of the sale, the senior vice president now owns 51,803 shares of the company’s stock, valued at approximately $2,230,119.15. This trade represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 16,109 shares in the company, valued at $792,079.53. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock valued at $640,120 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new stake in shares of International Seaways during the first quarter worth $27,000. EdgeRock Capital LLC bought a new stake in International Seaways during the 2nd quarter worth about $28,000. Blue Trust Inc. bought a new stake in International Seaways during the 3rd quarter worth about $41,000. Headlands Technologies LLC increased its position in International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 574 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.