International Seaways (NYSE:INSW) Trading Up 5.9% - Should You Buy?

Key Points

• International Seaways' shares increased by 5.9% during mid-day trading, reaching a last trading price of $49.90, despite a significant decrease in trading volume compared to average levels.
• BTIG Research recently lowered the target price for the stock from $70.00 to $60.00, maintaining a "buy" rating with an average consensus target price of $53.50 from analysts.
• The company announced a quarterly dividend of $0.12 per share, representing a 1.0% yield, with shareholders of record set to receive it on September 24th.

Shares of International Seaways Inc. (NYSE:INSW - Get Free Report) were up 5.9% during mid-day trading on Monday . The company traded as high as $49.16 and last traded at $49.90. Approximately 59,822 shares changed hands during trading, a decline of 92% from the average daily volume of 738,014 shares. The stock had previously closed at $47.11.

Analyst Upgrades and Downgrades

Separately, BTIG Research reduced their target price on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $53.50.

International Seaways Price Performance

The company's fifty day moving average is $42.45 and its two-hundred day moving average is $37.89. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.20 and a beta of 0.08. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The business had revenue of $188.82 million for the quarter, compared to analyst estimates of $199.06 million. During the same period in the prior year, the business posted $2.37 earnings per share. International Seaways's revenue was down 24.0% compared to the same quarter last year. Equities research analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.48 annualized dividend and a yield of 1.0%. International Seaways's dividend payout ratio (DPR) is 9.98%.

Insider Buying and Selling

In other International Seaways news, CAO James D. Small III sold 5,000 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $41.35, for a total value of $206,750.00. Following the sale, the chief accounting officer directly owned 69,292 shares in the company, valued at approximately $2,865,224.20. This trade represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $41.58, for a total transaction of $83,160.00. Following the completion of the sale, the chief executive officer owned 190,771 shares in the company, valued at approximately $7,932,258.18. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock valued at $690,340. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

Several large investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in shares of International Seaways by 18.3% during the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company's stock worth $68,000 after acquiring an additional 289 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of International Seaways by 2.8% during the first quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock worth $457,000 after acquiring an additional 370 shares in the last quarter. Arizona State Retirement System increased its position in shares of International Seaways by 3.9% during the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock worth $398,000 after acquiring an additional 455 shares in the last quarter. Rossby Financial LCC increased its position in shares of International Seaways by 3.6% during the second quarter. Rossby Financial LCC now owns 15,386 shares of the transportation company's stock worth $561,000 after acquiring an additional 530 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of International Seaways by 6.9% during the second quarter. Nisa Investment Advisors LLC now owns 9,044 shares of the transportation company's stock worth $330,000 after acquiring an additional 585 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.