International Seaways (NYSE:INSW) Hits New 52-Week Low – Here’s What Happened

International Seaways, Inc. (NYSE:INSW)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $36.36 and last traded at $36.43, with a volume of 82688 shares traded. The stock had previously closed at $37.23.

Wall Street Analyst Weigh In

Several brokerages have commented on INSW. Jefferies Financial Group lowered their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and dropped their target price for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Two 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Stock Down 1.5 %

The firm has a 50-day moving average price of $44.50 and a two-hundred day moving average price of $51.22. The company has a market capitalization of $1.80 billion, a P/E ratio of 3.60 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.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the prior year, the firm earned $1.99 EPS. The business’s revenue was down 6.8% on a year-over-year basis. Equities research analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared 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. 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 yield of 14.40%. International Seaways’s dividend payout ratio is 4.64%.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 1,000 shares of International Seaways stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.75, for a total transaction of $49,750.00. Following the completion of the transaction, the senior vice president now directly owns 46,887 shares of the company’s stock, valued at approximately $2,332,628.25. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.83, for a total transaction of $83,660.00. Following the completion of the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at approximately $6,336,199.25. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,200 shares of company stock worth $758,822. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently bought and sold shares of INSW. EdgeRock Capital LLC bought a new position in International Seaways in the 2nd quarter worth approximately $28,000. Blue Trust Inc. bought a new stake in shares of International Seaways during the third quarter worth $41,000. EverSource Wealth Advisors LLC raised its position 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 worth $44,000 after acquiring an additional 305 shares during the last quarter. Sunbelt Securities Inc. bought a new position in International Seaways in the third quarter valued at about $52,000. Finally, KBC Group NV boosted its holdings in International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 428 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

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.