10 Cheap Growth Stocks to Buy Now

8. International Seaways Inc. (NYSE:INSW)

Price to Earnings ratio: 3.93

International Seaways Inc. (NYSE:INSW) is a leading tanker company specializing in energy transportation services for crude oil and refined petroleum products in international markets.

International Seaways Inc. (NYSE:INSW) continues to strengthen its fleet with a strategic investment in six scrubber-fitted, dual-fuel (LNG) ready Long Range 1 (LR1) vessels. The company has secured contracts with K Shipbuilding Co., Ltd. in Korea for the construction of these vessels at a total cost of approximately $359 million. Scheduled for delivery between Q3 2025 and Q3 2026, these eco-efficient tankers are designed to enhance the company’s operational capabilities. Upon delivery, the vessels are expected to join the Panamax International Pool, a high-performing market segment.

International Seaways Inc. (NYSE:INSW) delivered solid results for the full year 2024, reporting a net income of $417 million. The company generated strong cash flow, with adjusted EBITDA reaching $583 million.  The company also maintained a robust balance sheet, ending the year with total liquidity of approximately $632 million, including $157 million in cash. Additionally, International Seaways returned significant value to shareholders, paying a total of $5.77 per share in dividends for 2024, representing a 12% yield.