International Seaways (NYSE:INSW) Hits New 52-Week Low – Time to Sell?

Shares of International Seaways, Inc. (NYSE:INSW) reached a new 52-week low during trading on Tuesday . The company traded as low as $33.15 and last traded at $33.32, with a volume of 49770 shares. The stock had previously closed at $33.95.

Analysts Set New Price Targets

Several brokerages have issued reports on INSW. Jefferies Financial Group dropped their target price 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. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Finally, Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Seaways currently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Stock Performance

The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.64 billion, a PE ratio of 3.23 and a beta of -0.10. The business’s 50-day moving average price is $42.25 and its 200-day moving average price is $50.06.

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 analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $208.75 million. During the same period last year, the business posted $1.99 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts expect that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 15.82%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is presently 4.64%.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated 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 transaction, the chief executive officer now owns 151,475 shares in the company, valued at $6,336,199.25. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the transaction, the senior vice president now directly owns 52,803 shares of the company’s stock, valued at approximately $2,705,625.72. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,200 shares of company stock worth $362,622. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

Several institutional investors have recently bought and sold shares of INSW. Assenagon Asset Management S.A. purchased a new position in shares of International Seaways during the 2nd quarter worth $214,000. Raymond James & Associates boosted its holdings in International Seaways by 21.0% in the 2nd quarter. Raymond James & Associates now owns 44,083 shares of the transportation company’s stock valued at $2,607,000 after purchasing an additional 7,646 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of International Seaways in the 2nd quarter valued at approximately $28,000. Bank of New York Mellon Corp grew its stake in shares of International Seaways by 38.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 209,135 shares of the transportation company’s stock valued at $12,366,000 after buying an additional 57,706 shares during the period. Finally, Bailard Inc. raised its position in shares of International Seaways by 2.4% during the 2nd quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock valued at $752,000 after buying an additional 300 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.