International Seaways, Inc. (NYSE:INSW – Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $50.30, for a total transaction of $100,600.00. Following the sale, the chief executive officer now owns 155,475 shares of the company’s stock, valued at $7,820,392.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
International Seaways Trading Down 0.7 %
NYSE INSW opened at $50.61 on Thursday. The firm’s 50 day moving average price is $52.07 and its two-hundred day moving average price is $55.35. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 4.73 and a beta of -0.07. International Seaways, Inc. has a twelve month low of $40.68 and a twelve month high of $65.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89.
International Seaways (NYSE:INSW – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.13). The business had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.12 earnings per share. Equities analysts anticipate that International Seaways, Inc. will post 9.51 EPS for the current year.
International Seaways Cuts Dividend
Institutional Trading of International Seaways
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in International Seaways by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after buying an additional 286,295 shares during the period. American Century Companies Inc. increased its stake in shares of International Seaways by 25.7% in the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after acquiring an additional 252,492 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of International Seaways by 5.3% in the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock worth $52,184,000 after acquiring an additional 44,200 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of International Seaways by 4.1% during the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock worth $50,482,000 after acquiring an additional 33,712 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in International Seaways by 20.8% during 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 purchasing an additional 139,569 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
INSW has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Stifel Nicolaus lifted their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus target price of $64.75.
Check Out Our Latest Report on International Seaways
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.
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