International Seaways, Inc. (INSW) To Go Ex-Dividend on September 11th

International Seaways, Inc. (NYSE:INSW) announced a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Shareholders of record on Wednesday, September 11th will be paid a dividend of 0.12 per share by the transportation company on Wednesday, September 25th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, September 11th.

International Seaways has increased its dividend payment by an average of 26.0% annually over the last three years. International Seaways has a payout ratio of 5.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Seaways to earn $8.67 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 5.5%.

International Seaways Trading Up 0.4 %

International Seaways stock opened at $49.86 on Monday. The stock has a 50-day moving average price of $53.53 and a 200 day moving average price of $55.53. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 4.66 and a beta of -0.07. International Seaways has a 52 week low of $40.11 and a 52 week high of $65.94. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.13). The business had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.12 earnings per share. Sell-side analysts anticipate that International Seaways will post 9.51 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Wednesday, August 7th. Finally, Stifel Nicolaus boosted their price target on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.75.

Insiders Place Their Bets

In other news, CAO James D. Small III sold 7,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $55.20, for a total transaction of $414,000.00. Following the sale, the chief accounting officer now directly owns 55,138 shares in the company, valued at approximately $3,043,617.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Douglas D. Wheat sold 4,532 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $58.15, for a total value of $263,535.80. Following the completion of the sale, the director now owns 20,634 shares of the company’s stock, valued at approximately $1,199,867.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO James D. Small III sold 7,500 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $55.20, for a total transaction of $414,000.00. Following the transaction, the chief accounting officer now directly owns 55,138 shares in the company, valued at $3,043,617.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,032 shares of company stock worth $942,326. Company insiders own 1.90% 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.