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

Shares of International Seaways, Inc. (NYSE:INSW) hit a new 52-week low during 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.

Analyst Upgrades and Downgrades

INSW has been the topic of a number of research reports. Jefferies Financial Group dropped their target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and dropped their price target for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Trading Down 2.1 %

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 has a market cap of $2.02 billion, a P/E ratio of 4.05 and a beta of -0.06. The stock’s 50 day moving average is $47.81 and its 200-day moving average is $53.57.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. The business had revenue of $225.20 million for 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 business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.99 EPS. Research analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share 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 dividend of $1.32 per share. The ex-dividend date is Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 12.88%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is currently 4.64%.

Insider Buying and Selling at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 52,803 shares of the company’s stock, valued at $2,705,625.72. This represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the sale, the director now directly owns 16,109 shares of the company’s stock, valued at $792,079.53. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,000 shares of company stock worth $723,780. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bailard Inc. increased its position in shares of International Seaways by 2.4% during the 2nd quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock valued at $752,000 after purchasing an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after acquiring an additional 305 shares in the last quarter. Consolidated Portfolio Review Corp increased its holdings in International Seaways by 3.9% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock worth $492,000 after acquiring an additional 312 shares in the last quarter. KBC Group NV increased its holdings in International Seaways by 65.2% in 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. Finally, Cynosure Group LLC increased its holdings in International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock worth $370,000 after acquiring an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.