International Seaways (NYSE:INSW) Reaches New 52-Week Low – Here’s Why

International Seaways, Inc. (NYSE:INSW) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $40.93 and last traded at $41.07, with a volume of 16334 shares. The stock had previously closed at $41.87.

Analyst Ratings Changes

Several analysts recently issued reports on INSW shares. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and cut their target price for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group reduced their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.67.

International Seaways Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The company’s 50-day moving average price is $47.66 and its 200 day moving average price is $53.48. The stock has a market capitalization of $2.04 billion, a P/E ratio of 3.99 and a beta of -0.06.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 24.65% and a net margin of 50.91%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.99 earnings per share. As a group, equities analysts expect that International Seaways, Inc. will post 7.92 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.32 dividend. The ex-dividend date is Friday, December 13th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a yield of 12.75%. International Seaways’s payout ratio is currently 4.64%.

Insiders Place Their Bets

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $792,079.53. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $41.83, for a total value of $83,660.00. Following the completion of the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at approximately $6,336,199.25. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $723,780 in the last three months. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INSW. EdgeRock Capital LLC purchased a new position in International Seaways in the second quarter worth about $28,000. EverSource Wealth Advisors LLC purchased a new position in shares of International Seaways in the 1st quarter worth approximately $27,000. Blue Trust Inc. purchased a new position in shares of International Seaways in the 3rd quarter worth approximately $41,000. Sunbelt Securities Inc. bought a new position in shares of International Seaways during the 3rd quarter valued at approximately $52,000. 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. 67.29% of the stock is currently owned by institutional investors.

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.