International Seaways (NYSE:INSW) Trading Down 4.1% – What’s Next?

International Seaways, Inc. (NYSE:INSW)’s share price traded down 4.1% during mid-day trading on Friday . The stock traded as low as $35.85 and last traded at $35.49. 103,808 shares were traded during trading, a decline of 90% from the average session volume of 1,019,570 shares. The stock had previously closed at $37.00.

Wall Street Analyst Weigh In

A number of research firms have commented on INSW. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and dropped their price objective for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group dropped their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Stock Performance

The company has a market cap of $1.76 billion, a PE ratio of 3.46 and a beta of -0.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock’s 50-day simple moving average is $37.61 and its 200 day simple moving average is $45.84.

International Seaways (NYSE:INSW) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $208.75 million. During the same period in the prior year, the company posted $1.99 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, equities analysts anticipate that International Seaways, Inc. will post 8.14 EPS for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 14.74%. International Seaways’s payout ratio is 4.64%.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.83, for a total transaction of $83,660.00. Following the transaction, the chief executive officer now directly owns 151,475 shares of the company’s stock, valued at $6,336,199.25. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total transaction of $46,692.00. Following the completion of the sale, the senior vice president now owns 45,687 shares of the company’s stock, valued at $1,777,681.17. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,200 shares of company stock valued at $248,012 over the last quarter. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Several hedge funds have recently bought and sold shares of INSW. Blue Trust Inc. purchased a new stake in International Seaways during the third quarter worth $41,000. EverSource Wealth Advisors LLC raised its stake in shares of International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after buying an additional 305 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways in the 3rd quarter worth about $52,000. KBC Group NV grew its stake in 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 acquiring an additional 428 shares during the last quarter. Finally, Quarry LP increased its holdings in International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other 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.