International Seaways (NYSE:INSW) Stock Price Down 8.1% on Disappointing Earnings

International Seaways, Inc. (NYSE:INSW)’s stock price was down 8.1% on Thursday following a dissappointing earnings announcement. The company traded as low as $33.86 and last traded at $33.51. Approximately 562,222 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 883,202 shares. The stock had previously closed at $36.47.

The transportation company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.81). International Seaways had a net margin of 50.91% and a return on equity of 24.65%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INSW. SEB Equity Research set a $50.00 price target on International Seaways in a report on Friday, January 24th. Jefferies Financial Group reduced their price target on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now owns 49,803 shares of the company’s stock, valued at $1,746,591.21. This trade represents a 1.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 3,000 shares of company stock valued at $113,710. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA bought a new position in shares of International Seaways during the 4th quarter worth $29,000. Larson Financial Group LLC bought a new position in International Seaways during the fourth quarter worth about $37,000. Blue Trust Inc. purchased a new position in shares of International Seaways in the third quarter worth about $41,000. Quarry LP raised its position in shares of International Seaways by 169.0% in the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 852 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in shares of International Seaways during the 3rd quarter valued at approximately $52,000. 67.29% of the stock is owned by institutional investors.

International Seaways Stock Performance

The company has a market capitalization of $1.66 billion, a P/E ratio of 3.25 and a beta of -0.11. 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 company’s fifty day moving average is $37.68 and its 200 day moving average is $43.23.

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.