International Seaways (NYSE:INSW) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

International Seaways (NYSE:INSW) released its quarterly earnings results on Thursday. The transportation company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.42 by $0.15, Briefing.com reports. The firm had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. International Seaways’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 EPS.

International Seaways Price Performance

Shares of NYSE INSW opened at $43.08 on Friday. International Seaways has a twelve month low of $42.08 and a twelve month high of $65.94. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 4.16 and a beta of -0.06. The business has a 50 day simple moving average of $49.01 and a 200-day simple moving average of $54.30.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 12.26%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 13th. International Seaways’s dividend payout ratio is presently 4.64%.

Insider Activity

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the transaction, the director now directly owns 16,109 shares in the company, valued at $792,079.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $49.40, for a total value of $98,800.00. Following the completion of the sale, the chief executive officer now owns 157,475 shares in the company, valued at $7,779,265. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,000 shares of company stock worth $738,920. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and reduced their price target for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Seaways has a consensus rating of “Moderate Buy” and an average target price of $62.67.

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.