International Seaways (NYSE:INSW) Shares Up 5.2% - Still a Buy?

International Seaways, Inc. (NYSE:INSW - Get Free Report) shares were up 5.2% on Monday . The company traded as high as $36.67 and last traded at $36.72. Approximately 454,336 shares traded hands during trading, a decline of 48% from the average daily volume of 874,092 shares. The stock had previously closed at $34.91.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INSW shares. Jefferies Financial Group restated a "buy" rating and issued a $48.00 price target on shares of International Seaways in a research note on Thursday. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research report on Friday, January 24th.

International Seaways Price Performance

The firm has a market cap of $1.86 billion, a P/E ratio of 3.65 and a beta of -0.01. 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 company's 50-day moving average is $33.40 and its two-hundred day moving average is $36.86.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. The company had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm's quarterly revenue was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.92 EPS. Sell-side analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's dividend payout ratio is presently 5.72%.

Insider Transactions at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $34.01, for a total value of $34,010.00. Following the sale, the senior vice president now owns 61,752 shares in the company, valued at $2,100,185.52. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $31.66, for a total transaction of $63,320.00. Following the transaction, the chief executive officer now owns 198,771 shares of the company's stock, valued at $6,293,089.86. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,400 shares of company stock valued at $380,086. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On International Seaways

Several large investors have recently bought and sold shares of INSW. Barclays PLC raised its holdings in International Seaways by 206.3% in the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after buying an additional 174,695 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of International Seaways by 1,677.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock valued at $3,987,000 after acquiring an additional 104,704 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of International Seaways during the fourth quarter worth $804,000. Thrivent Financial for Lutherans bought a new stake in shares of International Seaways in the fourth quarter worth $1,121,000. Finally, Raymond James Financial Inc. acquired a new stake in International Seaways in the fourth quarter valued at $1,837,000. 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.