International Seaways (NYSE:INSW) Hits New 12-Month Low – Here’s Why

International Seaways, Inc. (NYSE:INSW)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $42.05 and last traded at $42.10, with a volume of 191306 shares changing hands. The stock had previously closed at $43.08.

Analyst Ratings Changes

Several research firms have recently issued reports on INSW. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Stifel Nicolaus lowered 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 note on Wednesday, October 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.67.

International Seaways Price Performance

The firm’s 50 day simple moving average is $48.66 and its two-hundred day simple moving average is $54.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.87. The firm has a market capitalization of $2.09 billion, a P/E ratio of 4.11 and a beta of -0.06.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $208.75 million. During the same quarter last year, the business earned $1.99 earnings per share. The business’s revenue was down 6.8% on a year-over-year basis. As a group, analysts predict that International Seaways, Inc. will post 7.93 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 annualized dividend and a yield of 12.43%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Insider Transactions at International Seaways

In other International Seaways 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 transaction of $49,750.00. Following the transaction, the senior vice president now directly owns 46,887 shares of the company’s stock, valued at approximately $2,332,628.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other International Seaways news, SVP Derek G. Solon sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.75, for a total value of $49,750.00. Following the completion of the sale, the senior vice president now directly owns 46,887 shares in the company, valued at $2,332,628.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the transaction, the director now owns 16,109 shares in the company, valued at $792,079.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,000 shares of company stock worth $640,120. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Magnetar Financial LLC bought a new position in International Seaways in the 1st quarter worth about $2,604,000. SG Americas Securities LLC lifted its stake in shares of International Seaways by 102.1% in the second quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock worth $1,247,000 after buying an additional 10,652 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of International Seaways by 101.5% during the first quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock valued at $1,838,000 after buying an additional 17,399 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in shares of International Seaways during the first quarter valued at approximately $1,735,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in International Seaways by 269.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 42,834 shares of the transportation company’s stock worth $2,279,000 after acquiring an additional 31,231 shares during 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.