International Seaways (NYSE:INSW) Shares Up 7.1% – Should You Buy?

International Seaways, Inc. (NYSE:INSW) shot up 7.1% on Tuesday . The company traded as high as $38.00 and last traded at $37.91. 232,969 shares were traded during mid-day trading, a decline of 64% from the average session volume of 646,482 shares. The stock had previously closed at $35.41.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INSW shares. Jefferies Financial Group reduced their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and cut their target price for the stock 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Seaways presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Trading Up 7.1 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm’s fifty day moving average price is $38.85 and its 200-day moving average price is $47.78. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 3.66 and a beta of -0.10.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.42 by $0.15. The firm had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. International Seaways’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.99 EPS. On average, equities analysts expect that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.32 per share. The ex-dividend date was Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 13.93%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is presently 4.64%.

Insiders Place Their Bets

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $49.22, for a total value of $98,440.00. Following the completion of the transaction, the chief executive officer now directly owns 153,475 shares in the company, valued at $7,554,039.50. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the sale, the senior vice president now directly owns 49,803 shares in the company, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,200 shares of company stock worth $346,452. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of International Seaways by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after purchasing an additional 38,871 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of International Seaways during the 3rd quarter worth $2,161,000. Charles Schwab Investment Management Inc. raised its position in shares of International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after purchasing an additional 32,825 shares during the period. Barclays PLC raised its position in shares of International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares during the period. Finally, FMR LLC lifted its holdings in shares of International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after purchasing an additional 414,610 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

International Seaways Company Profile

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.