B. Riley Research Analysts Lift Earnings Estimates for INSW

International Seaways, Inc. (NYSE:INSW) – Stock analysts at B. Riley lifted their FY2024 EPS estimates for International Seaways in a note issued to investors on Wednesday, January 15th. B. Riley analyst L. Burke now forecasts that the transportation company will earn $8.04 per share for the year, up from their prior estimate of $7.16. The consensus estimate for International Seaways’ current full-year earnings is $7.92 per share. B. Riley also issued estimates for International Seaways’ Q4 2024 earnings at $0.36 EPS and FY2025 earnings at $4.18 EPS.

Several other equities research analysts have also issued reports on INSW. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group reduced their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and decreased their price objective for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Trading Down 2.3 %

Shares of International Seaways stock opened at $38.48 on Friday. International Seaways has a 1-year low of $32.11 and a 1-year high of $65.94. The company’s fifty day simple moving average is $38.14 and its 200-day simple moving average is $46.60. 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 stock has a market capitalization of $1.89 billion, a PE ratio of 3.72 and a beta of -0.10.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INSW. FMR LLC lifted its holdings in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after buying an additional 414,610 shares during the period. Millennium Management LLC purchased a new stake in International Seaways in the second quarter worth about $21,875,000. Barclays PLC grew its holdings in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after acquiring an additional 174,695 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in International Seaways during the 2nd quarter valued at about $8,781,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of International Seaways in the 3rd quarter valued at about $6,168,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $43.05, for a total value of $43,050.00. Following the completion of the sale, the senior vice president now owns 51,803 shares in the company, valued at approximately $2,230,119.15. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.83, for a total transaction of $83,660.00. Following the completion of the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at $6,336,199.25. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,200 shares of company stock valued at $248,012 over the last ninety days. 1.90% of the stock is owned by insiders.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.32 dividend. The ex-dividend date was Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 13.72%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

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.