International Seaways, Inc. Declares Quarterly Dividend of $0.12 (NYSE:INSW)

International Seaways, Inc. (NYSE:INSW) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.12 per share by the transportation company on Friday, March 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, March 14th.

International Seaways has raised its dividend by an average of 26.0% annually over the last three years. International Seaways has a dividend payout ratio of 8.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Seaways to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.3%.

International Seaways Stock Down 1.8 %

INSW opened at $32.92 on Wednesday. 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 has a twelve month low of $31.70 and a twelve month high of $65.94. The company has a market cap of $1.62 billion, a PE ratio of 3.18 and a beta of -0.17. The company has a 50-day moving average price of $37.45 and a 200 day moving average price of $42.15.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on International Seaways in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

Insiders Place Their Bets

In related news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the sale, the senior vice president now directly owns 48,803 shares in the company, valued at approximately $1,908,197.30. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 3,000 shares of company stock valued at $108,060. Insiders own 1.90% 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.