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

International Seaways, Inc. (NYSE:INSW - Get Free Report) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.12 per share by the transportation company on Friday, March 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. 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. Research 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

NYSE:INSW traded up $1.43 during mid-day trading on Tuesday, hitting $34.38. The company's stock had a trading volume of 1,693,864 shares, compared to its average volume of 674,748. The business's fifty day moving average is $37.70 and its two-hundred day moving average is $42.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. International Seaways has a 1 year low of $31.72 and a 1 year high of $65.94. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 3.32 and a beta of -0.11.

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares in the company, valued at $1,892,824.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 3,000 shares of company stock worth $108,060. 1.90% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several research firms have recently issued reports on INSW. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reiterated a "buy" rating and set a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.50.

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.