International Seaways, Inc. (INSW) To Go Ex-Dividend on March 14th

International Seaways, Inc. (NYSE:INSW) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.12 per share by the transportation company on Friday, March 28th. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, March 14th.

International Seaways has increased its dividend payment by an average of 26.0% per year over the last three years. International Seaways has a dividend payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Seaways to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.3%.

International Seaways Stock Down 1.4 %

Shares of NYSE INSW traded down $0.47 on Friday, hitting $33.29. The company had a trading volume of 1,116,395 shares, compared to its average volume of 668,411. International Seaways has a 12-month low of $32.11 and a 12-month high of $65.94. The business has a 50 day moving average of $37.70 and a two-hundred day moving average of $43.17. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.64 billion, a P/E ratio of 3.22 and a beta of -0.11.

Insider Activity at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $58.00 target price on shares of International Seaways in a research report on Thursday. Two investment 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. Based on data from MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and an average target price of $57.50.

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.