B. Riley Research Analysts Raise Earnings Estimates for INSW

International Seaways, Inc. (NYSE:INSW) – Stock analysts at B. Riley increased their FY2024 EPS estimates for International Seaways in a research report issued on Wednesday, January 15th. B. Riley analyst L. Burke now expects that the transportation company will earn $8.04 per share for the year, up from their previous 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.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period last year, the firm earned $1.99 earnings per share. International Seaways’s revenue was down 6.8% compared to the same quarter last year.

Several other research analysts have also issued reports on the company. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group decreased 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 report on Thursday, November 14th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and lowered their target price for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Stock Performance

Shares of INSW opened at $38.48 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.89 billion, a PE ratio of 3.72 and a beta of -0.10. International Seaways has a 12 month low of $32.11 and a 12 month high of $65.94. The stock has a fifty day moving average price of $38.14 and a 200-day moving average price of $46.60.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 13.72%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, December 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Insider Buying and Selling

In other news, SVP Derek G. Solon sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the completion of the transaction, the senior vice president now owns 45,687 shares of the company’s stock, valued at $1,777,681.17. The trade was a 2.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,200 shares of company stock valued at $248,012 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new position in shares of International Seaways in the third quarter worth about $41,000. EverSource Wealth Advisors LLC increased its stake in shares of International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 305 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in International Seaways in the 3rd quarter worth about $52,000. KBC Group NV boosted its position in International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after purchasing an additional 428 shares in the last quarter. Finally, Quarry LP grew its holdings in International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 1,167 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

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.