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

International Seaways, Inc. (NYSE:INSW)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $33.15 and last traded at $33.32, with a volume of 49770 shares traded. The stock had previously closed at $33.95.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INSW shares. Jefferies Financial Group lowered their price target on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and dropped their price target for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Finally, Fearnley Fonds raised shares of 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Price Performance

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 firm’s fifty day moving average price is $43.02 and its two-hundred day moving average price is $50.40. The stock has a market capitalization of $1.63 billion, a PE ratio of 3.28 and a beta of -0.10.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.42 by $0.15. The company had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. International Seaways’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.99 earnings per share. On average, equities analysts predict that International Seaways, Inc. will post 7.92 earnings per share for the current year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 15.95%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. International Seaways’s dividend payout ratio is 4.64%.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares in the company, 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 SEC, which is accessible through this hyperlink. 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 owns 151,475 shares of the company’s stock, valued at approximately $6,336,199.25. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over 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

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bailard Inc. raised its stake in shares of International Seaways by 2.4% during the second quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock valued at $752,000 after acquiring an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in International Seaways by 62.8% in 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 period. Consolidated Portfolio Review Corp raised its holdings in shares of International Seaways by 3.9% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock valued at $492,000 after purchasing an additional 312 shares in the last quarter. Franklin Resources Inc. increased its holdings in International Seaways by 0.8% during the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after buying an additional 379 shares during the period. Finally, KBC Group NV raised its stake in International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after buying an additional 428 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.

About International Seaways

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.