International Seaways (NYSE:INSW) Hits New 12-Month Low – Time to Sell?

International Seaways, Inc. (NYSE:INSW)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $38.67 and last traded at $39.58, with a volume of 204384 shares trading hands. The stock had previously closed at $39.54.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and decreased their price objective for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Jefferies Financial Group decreased their price objective 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. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Price Performance

The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $47.07 and its 200 day moving average is $53.00. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 3.82 and a beta of -0.06.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 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 the consensus estimate of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. International Seaways’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.99 earnings per share. On average, equities research analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed 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. This represents a $5.28 dividend on an annualized basis and a yield of 13.25%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. International Seaways’s dividend payout ratio is presently 4.64%.

Insiders Place Their Bets

In other news, SVP Derek G. Solon sold 1,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.75, for a total value of $49,750.00. Following the completion of the transaction, the senior vice president now owns 46,887 shares of the company’s stock, valued at approximately $2,332,628.25. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.83, for a total transaction of $83,660.00. Following the completion of the transaction, the chief executive officer now directly owns 151,475 shares of the company’s stock, valued at $6,336,199.25. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock worth $723,780 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new position in International Seaways in the 1st quarter valued at approximately $27,000. EdgeRock Capital LLC bought a new position in International Seaways in the 2nd quarter valued at approximately $28,000. Blue Trust Inc. bought a new position in International Seaways in the 3rd quarter valued at approximately $41,000. Sunbelt Securities Inc. bought a new position in International Seaways in the 3rd quarter valued at approximately $52,000. Finally, KBC Group NV raised 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 valued at $56,000 after buying an additional 428 shares during the last quarter. 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.