International Seaways Inc. (INSW) to Issue Quarterly Dividend of $0.12 on June 26th

International Seaways Inc. (NYSE:INSW) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Friday, June 12th will be paid a dividend of 0.12 per share by the transportation company on Friday, June 26th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, June 12th.

International Seaways has increased its dividend by an average of 0.6%per year over the last three years. International Seaways has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Seaways to earn $5.81 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 8.3%.

International Seaways Stock Performance

Shares of NYSE INSW opened at $90.18 on Friday. The company has a market cap of $4.46 billion, a PE ratio of 14.47 and a beta of -0.09. International Seaways has a 12 month low of $35.60 and a 12 month high of $91.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The company has a 50-day simple moving average of $74.69 and a 200-day simple moving average of $61.28.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $1.03. The business had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The company’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities analysts anticipate that International Seaways will post 9.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

INSW has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of International Seaways from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, April 7th. Jefferies Financial Group initiated coverage on shares of International Seaways in a research report on Friday, April 24th. They issued a “buy” rating and a $90.00 target price on the stock. Zacks Research cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, International Seaways has an average rating of “Moderate Buy” and a consensus target price of $81.00.

International Seaways Company Profile

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.