International Seaways, Inc. (INSW) To Go Ex-Dividend on March 14th

International Seaways, Inc. (NYSE:INSW) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.12 per share by the transportation company on Friday, March 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, March 14th.

International Seaways has increased its dividend payment by an average of 26.0% annually over the last three years. International Seaways has a payout ratio of 8.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Seaways to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.3%.

International Seaways Price Performance

Shares of INSW stock opened at $32.92 on Wednesday. The stock’s 50-day moving average is $37.45 and its 200 day moving average is $42.15. International Seaways has a 1-year low of $31.70 and a 1-year high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The company has a market cap of $1.62 billion, a P/E ratio of 3.18 and a beta of -0.17.

Insiders Place Their Bets

In other news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the transaction, the senior vice president now directly owns 48,803 shares of the company’s stock, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 3,000 shares of company stock valued at $108,060. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and issued a $58.00 target price on shares of International Seaways in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

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.