Shares of International Seaways Inc. (NYSE:INSW - Get Free Report) dropped 3.9% during mid-day trading on Tuesday . The stock traded as low as $37.30 and last traded at $37.57. Approximately 423,847 shares were traded during trading, a decline of 44% from the average daily volume of 758,627 shares. The stock had previously closed at $39.09.
Analyst Ratings Changes
Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a research report on Thursday, May 8th.
Check Out Our Latest Stock Report on International Seaways
International Seaways Stock Performance
The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average is $36.66 and its two-hundred day moving average is $36.05. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 5.79 and a beta of 0.05.
International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The company had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. During the same period in the prior year, the firm earned $2.92 EPS. International Seaways's quarterly revenue was down 32.9% compared to the same quarter last year. On average, analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.
International Seaways Dividend Announcement
The business 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 $0.12 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.28%. International Seaways's dividend payout ratio is currently 7.42%.
Insider Transactions at International Seaways
In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $38.74, for a total value of $77,480.00. Following the completion of the sale, the chief executive officer now directly owns 194,771 shares in the company, valued at $7,545,428.54. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $34.01, for a total value of $34,010.00. Following the sale, the senior vice president now directly owns 61,752 shares of the company's stock, valued at $2,100,185.52. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,500 shares of company stock worth $378,200. 2.00% of the stock is owned by insiders.
Institutional Trading of International Seaways
A number of institutional investors have recently bought and sold shares of INSW. Pacer Advisors Inc. acquired a new stake in International Seaways during the first quarter worth approximately $17,331,000. Bridgeway Capital Management LLC bought a new stake in International Seaways during the fourth quarter worth about $14,269,000. Vanguard Group Inc. grew its stake in International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after buying an additional 369,145 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of International Seaways in the 4th quarter valued at approximately $11,374,000. Finally, Encompass Capital Advisors LLC bought a new stake in shares of International Seaways during the 1st quarter worth approximately $9,957,000. Institutional investors own 67.29% of the company's stock.
International Seaways Company Profile
(
Get Free Report)
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.
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