International Seaways (NYSE:INSW) Sets New 52-Week Low – Here’s Why

International Seaways, Inc. (NYSE:INSW)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $38.67 and last traded at $39.58, with a volume of 204384 shares trading hands. The stock had previously closed at $39.54.

Analysts Set New Price Targets

Several research firms recently issued reports on INSW. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Jefferies Financial Group cut their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Trading Up 0.8 %

The business has a 50 day simple moving average of $47.07 and a 200 day simple moving average of $53.00. 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 has a market cap of $1.96 billion, a price-to-earnings ratio of 3.82 and a beta of -0.06.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. During the same quarter in the prior year, the firm earned $1.99 EPS. The company’s revenue was down 6.8% on a year-over-year basis. As a group, equities analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 13.25%. The ex-dividend date is Friday, December 13th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is 4.64%.

Insider Buying and Selling at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $51.24, for a total transaction of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares in the company, valued at approximately $2,705,625.72. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.30, for a total transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,000 shares of company stock worth $723,780. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INSW. Vanguard Group Inc. lifted its position in shares of International Seaways by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after purchasing an additional 286,295 shares in the last quarter. Lazard Asset Management LLC raised its position in International Seaways by 21.3% during the first quarter. Lazard Asset Management LLC now owns 63,621 shares of the transportation company’s stock worth $3,384,000 after acquiring an additional 11,192 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in International Seaways by 6.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,988 shares of the transportation company’s stock worth $1,170,000 after acquiring an additional 1,417 shares in the last quarter. Janus Henderson Group PLC raised its position in International Seaways by 36.0% during the first quarter. Janus Henderson Group PLC now owns 21,909 shares of the transportation company’s stock worth $1,165,000 after acquiring an additional 5,802 shares in the last quarter. Finally, Tidal Investments LLC raised its position in International Seaways by 20.6% during the first quarter. Tidal Investments LLC now owns 36,097 shares of the transportation company’s stock worth $1,920,000 after acquiring an additional 6,166 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.