International Seaways (NYSE:INSW) Stock Price Down 4.7% – What’s Next?

International Seaways Inc. (NYSE:INSW)’s share price was down 4.7% during trading on Wednesday . The stock traded as low as $94.83 and last traded at $94.3660. Approximately 79,640 shares changed hands during trading, a decline of 86% from the average session volume of 570,139 shares. The stock had previously closed at $99.05.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. BTIG Research lifted their price objective on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Jefferies Financial Group boosted their price objective on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, International Seaways has an average rating of “Moderate Buy” and an average target price of $88.00.

International Seaways Trading Down 5.1%

The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $89.71 and its 200 day moving average is $80.52. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 6.00 and a beta of -0.13.

International Seaways (NYSE:INSW) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. The firm had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company’s revenue for the quarter was up 138.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 EPS. Equities analysts predict that International Seaways Inc. will post 15.89 earnings per share for the current year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a dividend yield of 21.5%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. International Seaways’s dividend payout ratio is presently 3.07%.

Insider Activity

In related news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $98.44, for a total value of $196,880.00. Following the sale, the chief executive officer owned 173,745 shares of the company’s stock, valued at approximately $17,103,457.80. This trade represents a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the sale, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,000 shares of company stock valued at $441,240 over the last ninety days. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of International Seaways in the second quarter worth $28,000. Allworth Financial LP acquired a new stake in International Seaways in the 2nd quarter valued at $48,000. Public Employees Retirement System of Ohio acquired a new stake in International Seaways in the 2nd quarter valued at $66,000. Leonteq Securities AG acquired a new stake in International Seaways in the 4th quarter valued at $44,000. Finally, Compass Financial Management LLC bought a new stake in International Seaways during the 2nd quarter worth about $86,000. 67.29% of the stock is owned by institutional investors.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.