International Seaways (NYSE:INSW) Hits New 1-Year Low – Should You Sell?

International Seaways, Inc. (NYSE:INSW) shares hit a new 52-week low on Tuesday . The stock traded as low as $33.15 and last traded at $33.32, with a volume of 49770 shares changing hands. The stock had previously closed at $33.95.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INSW. Jefferies Financial Group cut their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Seaways currently has an average rating of “Moderate Buy” and an average price target of $60.67.

International Seaways Stock Performance

The business has a fifty day simple moving average of $42.25 and a two-hundred day simple moving average of $50.06. The company has a market cap of $1.64 billion, a P/E ratio of 3.23 and a beta of -0.10. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.99 earnings per share. On average, sell-side analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $1.32 dividend. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a yield of 15.82%. International Seaways’s dividend payout ratio is presently 4.64%.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.83, for a total value of $83,660.00. Following the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at approximately $6,336,199.25. The trade was a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $51.24, for a total value of $51,240.00. Following the transaction, the senior vice president now owns 52,803 shares of the company’s stock, valued at approximately $2,705,625.72. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,200 shares of company stock valued at $362,622 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after acquiring an additional 414,610 shares during the last quarter. Millennium Management LLC bought a new stake in shares of International Seaways in the 2nd quarter valued at approximately $21,875,000. American Century Companies Inc. boosted its holdings in shares of International Seaways by 25.7% in the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after purchasing an additional 252,492 shares during the period. Barclays PLC increased its position in shares of International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after purchasing an additional 174,695 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of International Seaways during the 2nd quarter valued at approximately $8,781,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.