International Seaways (NYSE:INSW) Hits New 52-Week Low – Time to Sell?

International Seaways, Inc. (NYSE:INSW) shares reached a new 52-week low on Wednesday . The company traded as low as $38.67 and last traded at $39.58, with a volume of 204384 shares traded. The stock had previously closed at $39.54.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INSW. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lowered their price target on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Stock Up 0.2 %

The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 3.83 and a beta of -0.06. The firm’s fifty day simple moving average is $46.85 and its two-hundred day simple moving average is $52.91.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.15. The company had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. International Seaways’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.99 EPS. Sell-side analysts anticipate that International Seaways, Inc. will post 7.92 EPS 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 issued a $1.32 dividend. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a dividend yield of 13.33%. The ex-dividend date is Friday, December 13th. International Seaways’s dividend payout ratio is currently 4.64%.

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.30, for a total value of $100,600.00. Following the transaction, the chief executive officer now directly owns 155,475 shares in the company, valued at approximately $7,820,392.50. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Derek G. Solon sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.75, for a total transaction of $49,750.00. Following the completion of the transaction, the senior vice president now owns 46,887 shares in the company, valued at approximately $2,332,628.25. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,000 shares of company stock worth $672,590. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Seaways

Several large investors have recently added to or reduced their stakes in the business. Bailard Inc. increased its stake in International Seaways by 2.4% during the 2nd quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock worth $752,000 after buying an additional 300 shares during the period. EverSource Wealth Advisors LLC increased its stake in 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 period. Consolidated Portfolio Review Corp increased its stake in International Seaways by 3.9% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock worth $492,000 after buying an additional 312 shares during the period. Franklin Resources Inc. increased its position in shares of International Seaways by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 379 shares during the last quarter. Finally, KBC Group NV increased its position in shares of 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 purchasing an additional 428 shares during 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.