Himalaya Shipping (NYSE:HSHP) Announces Earnings Results, Meets Expectations

Himalaya Shipping (NYSE:HSHP) announced its earnings results on Tuesday. The company reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71, FiscalAI reports. The business had revenue of $62.60 million for the quarter, compared to analyst estimates of $61.51 million. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.

Himalaya Shipping Price Performance

Shares of HSHP stock traded up $0.25 during trading on Tuesday, hitting $15.91. The company had a trading volume of 290,915 shares, compared to its average volume of 368,661. The firm has a market capitalization of $742.39 million, a P/E ratio of 14.08 and a beta of 1.39. Himalaya Shipping has a one year low of $7.87 and a one year high of $19.55. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.19 and a current ratio of 1.19. The stock’s 50-day moving average price is $17.29 and its 200 day moving average price is $14.89.

Himalaya Shipping Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, October 27th. Shareholders of record on Monday, October 19th were given a dividend of $0.28 per share. The ex-dividend date was Friday, October 16th. This is a boost from Himalaya Shipping’s previous dividend of $0.25.

Analyst Ratings Changes

Several brokerages have recently weighed in on HSHP. Weiss Ratings cut shares of Himalaya Shipping from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Clarkson Capital raised shares of Himalaya Shipping from a “neutral” rating to a “buy” rating in a research report on Thursday, August 20th. Two analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

About Himalaya Shipping

Himalaya Shipping Ltd. is a dry bulk shipping company incorporated in Bermuda. It owns and operates Newcastlemax vessels, large bulk carriers designed to transport commodities such as iron ore, coal and grain. The company’s fleet is equipped with dual-fuel engines that can run on liquefied natural gas as well as conventional marine fuel. Its vessels serve international bulk shipping routes, carrying cargo between major commodity-producing and consuming regions. Himalaya Shipping began building its fleet in the early 2020s and became a publicly traded company in 2023.