International Seaways, Inc. to Issue Quarterly Dividend of $0.06 (NYSE:INSW)

International Seaways, Inc. (NYSE:INSW) declared a quarterly dividend on Monday, June 7th, reports. Stockholders of record on Monday, June 14th will be paid a dividend of 0.06 per share by the transportation company on Monday, June 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, June 11th.

Shares of NYSE:INSW opened at $20.30 on Thursday. The company has a 50-day simple moving average of $19.33. International Seaways has a 1 year low of $12.44 and a 1 year high of $23.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.27 and a quick ratio of 2.24. The firm has a market cap of $570.17 million, a P/E ratio of -10.57 and a beta of 0.29.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, May 6th. The transportation company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. International Seaways had a positive return on equity of 6.65% and a negative net margin of 15.13%. Research analysts predict that International Seaways will post -0.49 EPS for the current fiscal year.

In other International Seaways news, CFO Jeffrey Pribor sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 20th. The stock was sold at an average price of $19.63, for a total transaction of $68,705.00. Following the completion of the sale, the chief financial officer now directly owns 48,164 shares of the company’s stock, valued at approximately $945,459.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.

A number of research firms recently weighed in on INSW. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of International Seaways in a research note on Friday, April 9th. TheStreet downgraded International Seaways from a “c” rating to a “d+” rating in a research note on Wednesday, April 7th. Zacks Investment Research raised International Seaways from a “sell” rating to a “hold” rating in a research note on Tuesday, March 30th. Finally, Jefferies Financial Group boosted their price objective on International Seaways from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, March 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $27.00.

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 through two segments, Crude Tankers and Product Carriers. As of March 12, 2021, the company owned and operated a fleet of 36 vessels, including 11 very large crude carriers, 2 Suezmaxes, 4 Aframaxes/LR2s, 13 Panamaxes/LR1s, and 4 medium range tankers, as well as had ownership interests in two floating storage and offloading service vessels.

Further Reading: When is a capital gain realized?

Dividend History for International Seaways (NYSE:INSW)

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