International Seaways (NYSE:INSW) Price Target Increased to $68.00 by Analysts at Stifel Nicolaus

International Seaways (NYSE:INSW) had its price objective increased by Stifel Nicolaus from $66.00 to $68.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft boosted their target price on International Seaways from $62.00 to $66.00 and gave the company a buy rating in a research note on Thursday, May 9th. StockNews.com upgraded International Seaways from a hold rating to a buy rating in a research note on Thursday, May 9th. Finally, Jefferies Financial Group restated a buy rating and issued a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $63.75.

International Seaways Trading Up 4.0 %

Shares of INSW stock opened at $58.72 on Thursday. International Seaways has a 12 month low of $35.29 and a 12 month high of $65.94. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $59.04 and its two-hundred day moving average is $53.50. The company has a market cap of $2.90 billion, a PE ratio of 5.49 and a beta of -0.04.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.54. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. During the same period in the prior year, the business earned $3.30 earnings per share. International Seaways’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts predict that International Seaways will post 10.07 EPS for the current year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 11.92%. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. The ex-dividend date is Wednesday, June 12th. International Seaways’s dividend payout ratio is currently 4.49%.

Insider Activity

In related news, CAO James D. Small III sold 7,500 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $55.20, for a total transaction of $414,000.00. Following the completion of the sale, the chief accounting officer now directly owns 55,138 shares in the company, valued at approximately $3,043,617.60. The sale was disclosed in a filing with the SEC, which is available through this link. In other International Seaways news, CFO Jeffrey Pribor sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $62.37, for a total transaction of $2,182,950.00. Following the transaction, the chief financial officer now owns 40,849 shares in the company, valued at approximately $2,547,752.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO James D. Small III sold 7,500 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $55.20, for a total value of $414,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 55,138 shares in the company, valued at $3,043,617.60. The disclosure for this sale can be found here. In the last three months, insiders sold 70,879 shares of company stock worth $4,336,583. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Seaways

Several hedge funds have recently made changes to their positions in INSW. EverSource Wealth Advisors LLC purchased a new position in International Seaways in the 1st quarter valued at approximately $27,000. Headlands Technologies LLC lifted its position in shares of International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in International Seaways during the 1st quarter worth $108,000. Bfsg LLC acquired a new position in International Seaways in the fourth quarter valued at $167,000. Finally, U S Global Investors Inc. increased its stake in International Seaways by 144.5% in the fourth quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after purchasing an additional 2,500 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

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.