International Seaways, Inc. (NYSE:INSW) Announces Quarterly Dividend of $0.12

International Seaways, Inc. (NYSE:INSW) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.12 per share by the transportation company on Friday, March 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, March 14th.

International Seaways has increased its dividend payment by an average of 26.0% per year over the last three years. International Seaways has a dividend payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Seaways to earn $4.65 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 10.3%.

International Seaways Stock Performance

Shares of International Seaways stock traded down $0.47 on Friday, reaching $33.29. 1,116,395 shares of the company were exchanged, compared to its average volume of 668,411. 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 is $37.70 and its two-hundred day moving average is $43.17. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 3.22 and a beta of -0.11. International Seaways has a 1-year low of $32.11 and a 1-year high of $65.94.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the sale, the senior vice president now directly owns 48,803 shares in the company, valued at $1,908,197.30. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INSW has been the topic of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price target on shares of International Seaways in a research report on Thursday. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, International Seaways has an average rating of “Moderate Buy” and an average target price of $57.50.

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.