International Seaways (NYSE:INSW) Stock Price Up 5.2% - What's Next?

International Seaways, Inc. (NYSE:INSW - Get Free Report)'s share price shot up 5.2% on Monday . The company traded as high as $36.67 and last traded at $36.72. 454,336 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 874,092 shares. The stock had previously closed at $34.91.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INSW. SEB Equity Research set a $50.00 price target on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reaffirmed a "buy" rating and set a $48.00 price objective on shares of International Seaways in a report on Thursday.

International Seaways Stock Up 3.2 %

The firm has a market capitalization of $1.86 billion, a P/E ratio of 3.65 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a fifty day moving average of $33.40 and a 200 day moving average of $36.91.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.21. The company had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm's revenue for the quarter was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.92 earnings per share. On average, research analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is 5.72%.

Insider Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the transaction, the senior vice president now owns 50,453 shares of the company's stock, valued at $1,684,625.67. This represents a 8.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares of the company's stock, valued at approximately $1,892,824.28. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,400 shares of company stock worth $380,086 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently bought and sold shares of INSW. Charles Schwab Investment Management Inc. grew its holdings in shares of International Seaways by 17.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,202 shares of the transportation company's stock valued at $18,068,000 after purchasing an additional 80,591 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of International Seaways by 550.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company's stock valued at $60,000 after acquiring an additional 1,542 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in International Seaways during the 1st quarter valued at about $55,000. Graham Capital Wealth Management LLC purchased a new position in International Seaways in the 1st quarter worth approximately $2,426,000. Finally, LPL Financial LLC lifted its position in International Seaways by 250.7% in the first quarter. LPL Financial LLC now owns 45,856 shares of the transportation company's stock valued at $1,522,000 after purchasing an additional 32,781 shares during the last quarter. Hedge funds and other institutional investors own 67.29% 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.