Diana Shipping inc. (DSX) Releases Quarterly Earnings Results
Diana Shipping inc. (NYSE:DSX) announced its earnings results on Tuesday. The shipping company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.05), Briefing.com reports. Diana Shipping inc. had a negative net margin of 122.29% and a negative return on equity of 14.80%. The business had revenue of $43.92 million for the quarter, compared to analysts’ expectations of $41.12 million. During the same quarter last year, the firm earned ($0.99) EPS. The firm’s quarterly revenue was up 61.9% on a year-over-year basis.
Shares of Diana Shipping inc. (NYSE:DSX) traded down $0.05 during trading hours on Tuesday, reaching $3.85. 795,552 shares of the company were exchanged, compared to its average volume of 832,227. Diana Shipping inc. has a 52 week low of $2.74 and a 52 week high of $6.20.
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DSX has been the subject of several recent analyst reports. BidaskClub lowered Diana Shipping inc. from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Diana Shipping inc. from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research report on Thursday, October 19th. Citigroup Inc. boosted their target price on Diana Shipping inc. from $2.50 to $5.00 and gave the company a “hold” rating in a research report on Tuesday, October 31st. They noted that the move was a valuation call. Deutsche Bank AG restated a “hold” rating on shares of Diana Shipping inc. in a research report on Tuesday, October 31st. Finally, ValuEngine lowered Diana Shipping inc. from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.00.
A hedge fund recently raised its stake in Diana Shipping inc. stock. State Street Corp increased its holdings in Diana Shipping inc. (NYSE:DSX) by 15.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,149 shares of the shipping company’s stock after buying an additional 10,694 shares during the period. State Street Corp owned about 0.08% of Diana Shipping inc. worth $324,000 as of its most recent filing with the Securities & Exchange Commission. 38.44% of the stock is currently owned by institutional investors and hedge funds.
About Diana Shipping inc.
Diana Shipping Inc is a holding company. The Company is a provider of shipping transportation services. The Company specializes in the ownership of dry bulk vessels. As of February 16, 2017, the Company’s operating fleet consisted of 48 dry bulk carriers, of which 23 were Panamax, four were Kamsarmax, three were Post-Panamax, 14 were Capesize and four were Newcastlemax vessels, having a combined carrying capacity of approximately 5.7 million deadweight tonnage (dwt).
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