Relative Strength Alert For International Seaways
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 11 2024
0mins
Source: NASDAQ.COM
Oversold Status of International Seaways Inc: Shares of International Seaways Inc (INSW) have entered oversold territory with a Relative Strength Index (RSI) reading of 28.8, indicating potential buying opportunities for investors as the stock price has fallen to $42.05.
Dividend Yield and Investment Considerations: The company's recent annualized dividend of $0.48 per share offers an annual yield of 1.11%, making it attractive for dividend investors, who should also consider INSW's dividend history when evaluating investment potential.
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Analyst Views on INSW
Wall Street analysts forecast INSW stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for INSW is 58.00 USD with a low forecast of 57.00 USD and a high forecast of 60.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 59.660
Low
57.00
Averages
58.00
High
60.00
Current: 59.660
Low
57.00
Averages
58.00
High
60.00
About INSW
International Seaways, Inc. is a tanker company engaged in providing energy transportation services for crude oil and petroleum products in international flag markets. The Company operates through two segments: Crude Tankers and Product Carriers. The Crude Tankers segment is made up of a fleet of VLCCs, Suezmaxes, and Aframaxes engaged in the worldwide transportation of crude oil. This segment also includes its Crude Tankers Lightering business through which it provides ship-to-ship (STS) lightering support services and full-service STS lightering to customers in the United States Gulf (USG), United States Pacific, Grand Bahama, and Panama regions. The Product Carriers segment consists of a fleet of MRs, LR1 product carriers, and an LR2 product carrier engaged in the worldwide transportation of refined petroleum products. It owns and operates a fleet of about 84 vessels, including 11 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 14 LR1s (including six new buildings), and 41 MR tankers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
International Seaways Sells Five Vintage Tankers for $185M
- Transaction Overview: International Seaways has agreed to sell five vintage tankers for approximately $185 million, expecting to recognize gains of about $65 million, which will enhance the company's financial flexibility.
- Vessel Age Analysis: The sale includes three MR product tankers with an average age of 18 years and two VLCCs averaging 15 years, reflecting the company's ongoing efforts to modernize its aging fleet.
- Modernization Strategy: International Seaways is steadily clearing out vintage ships as part of a broader strategy to modernize and maintain flexibility in the tanker market, which helps improve its competitive position in a challenging environment.
- Fleet Size: Even after this sale, International Seaways retains a fleet of 73 vessels, including 12 VLCCs and 32 MR tankers, underscoring its significant presence among publicly traded tanker owners.
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International Seaways Sells Five Vessels for $185 Million
- Asset Sale Strategy: International Seaways has sold or entered agreements to sell five vessels since the beginning of the year, expecting total proceeds of approximately $185 million, indicating proactive asset optimization efforts.
- Vessel Age Analysis: The sold vessels include three MR tankers with an average age of 18 years and two VLCCs averaging 15 years, reflecting the company's strategy to modernize its aging fleet for improved operational efficiency.
- Revenue Expectations: The company anticipates closing these transactions in the first quarter of 2026, recognizing gains of approximately $65 million from the vessel sales, which will positively impact future financial performance.
- Market Positioning: Currently operating a fleet of 73 vessels, the strategy of selling older ships not only enhances overall operational efficiency but also strengthens its competitive position in the international energy transportation market.
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