International Seaways said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of June 13, 2023 to qualify for the dividend. Shareholders of record as of June 14, 2023 will receive the payment on June 28, 2023.
At the current share price of $37.75 / share, the stock's dividend yield is 1.27%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.86%, the lowest has been 0.85%, and the highest has been 6.14%. The standard deviation of yields is 0.89 (n=237).
The current dividend yield is 0.66 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.20. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 8.83%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 418 funds or institutions reporting positions in International Seaways. This is an increase of 43 owner(s) or 11.47% in the last quarter. Average portfolio weight of all funds dedicated to INSW is 0.17%, a decrease of 23.80%. Total shares owned by institutions increased in the last three months by 5.08% to 32,457K shares. The put/call ratio of INSW is 0.21, indicating a bullish outlook.
Analyst Price Forecast Suggests 58.40% Upside
As of April 24, 2023, the average one-year price target for International Seaways is 59.80. The forecasts range from a low of 50.50 to a high of $73.50. The average price target represents an increase of 58.40% from its latest reported closing price of 37.75.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for International Seaways is 866MM, a decrease of 17.56%. The projected annual non-GAAP EPS is 7.34.
What are Other Shareholders Doing?
Donald Smith holds 1,847K shares representing 3.75% ownership of the company. In it's prior filing, the firm reported owning 2,766K shares, representing a decrease of 49.82%. The firm decreased its portfolio allocation in INSW by 38.26% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,341K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 1,489K shares, representing a decrease of 10.97%. The firm decreased its portfolio allocation in INSW by 12.31% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,122K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 1,081K shares, representing an increase of 3.60%. The firm decreased its portfolio allocation in INSW by 1.00% over the last quarter.
Victory Capital Management holds 967K shares representing 1.96% ownership of the company. In it's prior filing, the firm reported owning 373K shares, representing an increase of 61.42%. The firm increased its portfolio allocation in INSW by 77.37% over the last quarter.
Hosking Partners LLP holds 880K shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 450K shares, representing an increase of 48.80%. The firm increased its portfolio allocation in INSW by 90.97% over the last quarter.
International Seaways Background Information
(This description is provided by the company.)
International Seaways, Inc. is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 36 vessels, including 11 VLCCs, two Suezmaxes, 4 Aframaxes/LR2s, 13 Panamaxes/LR1s and 4 MR tankers. Through joint ventures, it has ownership interests in two floating storage and offloading service vessels. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY.
This story originally appeared on Fintel.
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