Diana Shipping (NYSE:DSX) Releases Earnings Results, Beats Expectations By $0.14 EPS

Diana Shipping (NYSE:DSX) posted its quarterly earnings data on Friday. The shipping company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14, Zacks reports. The company had revenue of $57.29 million during the quarter, compared to analysts’ expectations of $54.60 million. Diana Shipping had a net margin of 20.61% and a return on equity of 4.56%.

Diana Shipping Stock Up 5.0%

Shares of DSX traded up $0.12 during trading hours on Friday, hitting $2.42. The stock had a trading volume of 1,445,681 shares, compared to its average volume of 742,281. Diana Shipping has a 1-year low of $1.46 and a 1-year high of $2.91. The firm has a market capitalization of $300.43 million, a P/E ratio of 6.90 and a beta of 0.51. The firm has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $2.37. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.73 and a quick ratio of 2.69.

Diana Shipping Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 21st. Diana Shipping’s dividend payout ratio is 11.43%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Diana Shipping in a report on Monday, July 20th. Wall Street Zen raised Diana Shipping from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSX. Virtu Financial LLC bought a new stake in shares of Diana Shipping during the fourth quarter valued at approximately $112,000. Goldman Sachs Group Inc. grew its position in Diana Shipping by 66.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 70,879 shares of the shipping company’s stock valued at $118,000 after purchasing an additional 28,384 shares during the period. Two Sigma Investments LP grew its position in Diana Shipping by 407.4% in the 3rd quarter. Two Sigma Investments LP now owns 80,684 shares of the shipping company’s stock valued at $136,000 after purchasing an additional 64,784 shares during the period. XTX Topco Ltd increased its stake in Diana Shipping by 84.1% during the 4th quarter. XTX Topco Ltd now owns 144,901 shares of the shipping company’s stock valued at $241,000 after purchasing an additional 66,212 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Diana Shipping during the 3rd quarter valued at $278,000. Institutional investors own 48.68% of the company’s stock.

About Diana Shipping

Diana Shipping Inc is a global shipping company incorporated in the Republic of the Marshall Islands and headquartered in Athens, Greece. The company specializes in the ownership and operation of dry bulk vessels that transport a variety of commodities, including coal, iron ore, grains, fertilizers, steel products and other bulk materials. Diana Shipping’s fleet comprises Panamax, Capesize, Newcastlemax and Supramax/Newcastlemax segments, enabling it to address the needs of customers on key global trade routes.

The company conducts its operations by chartering vessels on short‐term voyage charters and longer‐term period charters.