International Seaways, Inc. (NYSE:INSW) to Issue $0.12 Quarterly Dividend

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

International Seaways has raised its dividend by an average of 26.0% annually over the last three years. International Seaways has a payout ratio of 6.5% meaning 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 %

INSW stock traded down $0.47 during mid-day trading on Friday, reaching $33.29. The company had a trading volume of 1,116,395 shares, compared to its average volume of 668,916. 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 stock has a 50 day simple moving average of $37.70 and a two-hundred day simple moving average of $43.17. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 3.22 and a beta of -0.11. International Seaways has a 52 week low of $32.11 and a 52 week high of $65.94.

Insider Buying and Selling

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the transaction, the senior vice president now directly owns 48,803 shares of the company’s stock, valued at $1,908,197.30. The trade was a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on INSW shares. SEB Equity Research set a $50.00 price target on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and issued a $58.00 price target on shares of International Seaways in a research note on Thursday. Two 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.50.

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.