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

Shares of International Seaways, Inc. (NYSE:INSW) reached a new 52-week low during trading on Wednesday . The company traded as low as $38.04 and last traded at $38.14, with a volume of 979401 shares trading hands. The stock had previously closed at $39.71.

Wall Street Analyst Weigh In

Several brokerages have commented on INSW. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group reduced 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, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.67.

International Seaways Price Performance

The business has a 50-day moving average of $45.36 and a two-hundred day moving average of $51.97. 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 firm has a market cap of $1.82 billion, a P/E ratio of 3.63 and a beta of -0.10.

International Seaways (NYSE:INSW) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the prior year, the firm posted $1.99 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $1.32 dividend. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 14.25%. International Seaways’s payout ratio is currently 4.64%.

Insider Activity at International Seaways

In related news, SVP Derek G. Solon sold 1,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.75, for a total value of $49,750.00. Following the transaction, the senior vice president now owns 46,887 shares in the company, valued at $2,332,628.25. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the sale, the director now owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,200 shares of company stock worth $758,822 over the last three months. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC bought a new position in International Seaways during the first quarter worth $27,000. EdgeRock Capital LLC acquired a new position in shares of International Seaways during the second quarter valued at about $28,000. Blue Trust Inc. bought a new position in shares of International Seaways during the 3rd quarter worth about $41,000. Sunbelt Securities Inc. acquired a new stake in shares of International Seaways in the 3rd quarter valued at about $52,000. Finally, KBC Group NV grew its stake 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 valued at $56,000 after buying an additional 428 shares during the period. 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.