International Seaways, Inc. Expected to Post Q2 2023 Earnings of $1.39 Per Share (NYSE:INSW)

International Seaways, Inc. (NYSE:INSW – Get Rating) – B. Riley issued their Q2 2023 earnings estimates for shares of International Seaways in a report issued on Wednesday, March 1st. B. Riley analyst L. Burke expects that the transportation company will post earnings per share of $1.39 for the quarter. The consensus estimate for International Seaways’ current full-year earnings is $8.36 per share. B. Riley also issued estimates for International Seaways’ Q4 2023 earnings at $2.41 EPS and FY2024 earnings at $5.94 EPS.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their price objective on shares of International Seaways from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Wednesday. BTIG Research lifted their price objective on shares of International Seaways from $30.00 to $50.00 in a research note on Wednesday, November 9th. Finally, TheStreet raised shares of International Seaways from a “c” rating to a “b-” rating in a research note on Tuesday, November 8th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, International Seaways presently has an average rating of “Buy” and a consensus price target of $54.80.

International Seaways Stock Up 2.0 %

International Seaways stock opened at $52.32 on Thursday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 6.71 and a beta of 0.04. The company has a current ratio of 2.31, a quick ratio of 2.30 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $40.25 and its two-hundred day moving average price is $38.47. International Seaways has a 52 week low of $15.78 and a 52 week high of $52.68.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. bought a new position in International Seaways during the third quarter worth $28,000. Point72 Hong Kong Ltd bought a new stake in International Seaways in the 3rd quarter valued at $45,000. Coppell Advisory Solutions Corp. bought a new stake in International Seaways in the 4th quarter valued at $46,000. Wells Fargo & Company MN increased its holdings in International Seaways by 29.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock valued at $62,000 after buying an additional 384 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in International Seaways in the 4th quarter valued at $74,000. 84.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Seaways

In related news, CAO James D. Small III sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $39.21, for a total transaction of $254,865.00. Following the completion of the sale, the chief accounting officer now directly owns 60,851 shares in the company, valued at $2,385,967.71. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the sale, the chief financial officer now directly owns 65,594 shares in the company, valued at $2,564,725.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James D. Small III sold 6,500 shares of International Seaways stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $39.21, for a total transaction of $254,865.00. Following the completion of the sale, the chief accounting officer now owns 60,851 shares of the company’s stock, valued at $2,385,967.71. The disclosure for this sale can be found here. Insiders have sold a total of 9,500 shares of company stock valued at $373,035 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be given a $2.00 dividend. This is an increase from International Seaways’s previous quarterly dividend of $1.12. This represents a $8.00 annualized dividend and a dividend yield of 15.29%. The ex-dividend date of this dividend is Monday, March 13th. International Seaways’s dividend payout ratio (DPR) is 6.15%.

International Seaways Company Profile

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.