International Seaways (NYSE:INSW) Trading Up 4.1% - What's Next?

Shares of International Seaways, Inc. (NYSE:INSW - Get Free Report) were up 4.1% on Tuesday . The company traded as high as $40.03 and last traded at $40.44. Approximately 54,038 shares traded hands during trading, a decline of 93% from the average daily volume of 751,524 shares. The stock had previously closed at $38.85.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th.

International Seaways Price Performance

The firm has a market cap of $2.01 billion, a P/E ratio of 3.93 and a beta of 0.05. The firm's fifty day simple moving average is $35.81 and its 200 day simple moving average is $35.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways (NYSE:INSW - Get Free Report) last released 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 business had revenue of $178.34 million during the quarter, compared to analysts' expectations of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm's revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.92 EPS. As a group, analysts forecast that International Seaways, Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.18%. International Seaways's payout ratio is currently 7.42%.

Insider Activity

In other news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $32.63, for a total value of $32,630.00. Following the sale, the senior vice president now owns 56,846 shares of the company's stock, valued at approximately $1,854,884.98. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Derek G. Solon sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the transaction, the senior vice president now directly owns 55,893 shares in the company, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,500 shares of company stock worth $300,720. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in International Seaways by 46.2% during the 4th quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock worth $1,257,000 after purchasing an additional 11,050 shares during the period. Thrivent Financial for Lutherans bought a new position in International Seaways during the 4th quarter worth about $1,121,000. Raymond James Financial Inc. purchased a new position in International Seaways during the 4th quarter valued at about $1,837,000. Principal Financial Group Inc. raised its stake in International Seaways by 685.6% in the fourth quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock worth $8,070,000 after buying an additional 195,961 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of International Seaways by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock worth $34,084,000 after purchasing an additional 4,769 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

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.

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