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

International Seaways, Inc. (NYSE:INSW) shares hit a new 52-week low during trading on Monday . The company traded as low as $42.05 and last traded at $42.10, with a volume of 191306 shares changing hands. The stock had previously closed at $43.08.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on INSW shares. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.67.

International Seaways Trading Down 1.0 %

The firm’s 50-day moving average price is $49.01 and its 200-day moving average price is $54.30. The company has a market cap of $2.12 billion, a P/E ratio of 4.16 and a beta of -0.06. 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 posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.91% and a net margin of 50.91%. The firm had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the prior year, the business posted $1.99 earnings per share. The business’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts expect that International Seaways, Inc. will post 8.44 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 $1.32 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 12.38%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Insider Buying and Selling at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $51.24, for a total transaction of $51,240.00. Following the sale, the senior vice president now owns 52,803 shares of the company’s stock, valued at approximately $2,705,625.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now directly owns 52,803 shares in the company, valued at $2,705,625.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now directly owns 16,109 shares in the company, valued at approximately $792,079.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock valued at $640,120 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of International Seaways

A number of large investors have recently modified their holdings of INSW. EverSource Wealth Advisors LLC bought a new stake in shares of International Seaways during the 1st quarter worth $27,000. EdgeRock Capital LLC bought a new stake in International Seaways during the second quarter worth about $28,000. Blue Trust Inc. purchased a new position in shares of International Seaways in the 3rd quarter worth about $41,000. Headlands Technologies LLC boosted its holdings in shares of International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares in the last quarter. Finally, KBC Group NV increased its position in shares of International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the last quarter. Institutional investors own 67.29% 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.