International Seaways (NYSE:INSW) Hits New 1-Year Low – What’s Next?

International Seaways, Inc. (NYSE:INSW) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $40.93 and last traded at $41.07, with a volume of 16334 shares changing hands. The stock had previously closed at $41.87.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group lowered their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and decreased their target price for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Trading Down 2.1 %

The company has a 50 day moving average of $47.81 and a 200 day moving average of $53.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 4.05 and a beta of -0.06.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the prior year, the company earned $1.99 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. On average, research analysts predict that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.32 dividend. The ex-dividend date is Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 12.88%. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $51.19, for a total value of $51,190.00. Following the completion of the sale, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at $2,754,175.57. This trade represents a 1.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $50.30, for a total value of $100,600.00. Following the transaction, the chief executive officer now owns 155,475 shares of the company’s stock, valued at approximately $7,820,392.50. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock valued at $723,780 in the last three months. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently bought and sold shares of INSW. EdgeRock Capital LLC acquired a new stake in shares of International Seaways during the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC acquired a new stake in shares of International Seaways during the 1st quarter worth about $27,000. Blue Trust Inc. acquired a new stake in shares of International Seaways during the 3rd quarter worth about $41,000. Sunbelt Securities Inc. acquired a new stake in shares of International Seaways during the 3rd quarter worth about $52,000. Finally, KBC Group NV raised its position in shares of International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other 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.