International Seaways (NYSE:INSW) Sets New 1-Year Low - Here's What Happened

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus lowered shares of International Seaways from a "buy" rating to a "hold" rating and decreased their target price for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered their price objective on International Seaways from $66.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Finally, Fearnley Fonds raised International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $60.67.

International Seaways Price Performance

The firm has a market capitalization of $1.64 billion, a P/E ratio of 3.22 and a beta of -0.10. 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 business's 50 day moving average is $43.02 and its 200-day moving average is $50.40.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $208.75 million. During the same quarter last year, the company posted $1.99 EPS. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.32 dividend. The ex-dividend date is Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 15.85%. This is a boost from International Seaways's previous quarterly dividend of $0.12. International Seaways's dividend payout ratio is 4.64%.

Insider Activity

In other news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $51.24, for a total transaction of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares of the company's stock, valued at approximately $2,705,625.72. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief executive officer now directly owns 151,475 shares in the company, valued at approximately $6,336,199.25. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,200 shares of company stock worth $362,622. Corporate insiders own 1.90% of the company's stock.

Institutional Trading of International Seaways

A number of institutional investors have recently bought and sold shares of INSW. EdgeRock Capital LLC acquired a new stake in shares of International Seaways in the 2nd quarter valued at about $28,000. Blue Trust Inc. acquired a new stake in International Seaways in the third quarter valued at approximately $41,000. EverSource Wealth Advisors LLC increased its holdings in shares of International Seaways by 62.8% during the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company's stock valued at $44,000 after acquiring an additional 305 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of International Seaways during the third quarter worth approximately $52,000. Finally, KBC Group NV lifted its holdings in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock worth $56,000 after purchasing an additional 428 shares in 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.