Himalaya Shipping (NYSE:HSHP) Posts Earnings Results, Beats Expectations By $0.01 EPS

Himalaya Shipping (NYSE:HSHP) announced its quarterly earnings results on Thursday. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01, Zacks reports. Himalaya Shipping had a return on equity of 4.03% and a net margin of 5.32%.The firm had revenue of $37.40 million for the quarter, compared to analyst estimates of $41.45 million.

Himalaya Shipping Stock Up 0.7%

Shares of Himalaya Shipping stock traded up $0.05 during midday trading on Friday, reaching $7.73. The company had a trading volume of 119,224 shares, compared to its average volume of 138,248. The stock has a fifty day moving average price of $8.13 and a 200 day moving average price of $6.98. Himalaya Shipping has a fifty-two week low of $4.29 and a fifty-two week high of $8.95. The company has a debt-to-equity ratio of 4.25, a current ratio of 0.95 and a quick ratio of 0.95.

Himalaya Shipping Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Manatuck Hill Partners LLC bought a new stake in shares of Himalaya Shipping in the 2nd quarter valued at $721,000. JPMorgan Chase & Co. boosted its position in Himalaya Shipping by 445.4% during the third quarter. JPMorgan Chase & Co. now owns 89,011 shares of the company’s stock valued at $733,000 after acquiring an additional 72,692 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Himalaya Shipping by 28.2% during the second quarter. Russell Investments Group Ltd. now owns 158,189 shares of the company’s stock valued at $913,000 after acquiring an additional 34,758 shares during the last quarter. Creative Planning acquired a new stake in Himalaya Shipping during the 2nd quarter worth about $108,000. Finally, Sei Investments Co. bought a new position in shares of Himalaya Shipping in the 2nd quarter worth about $107,000. Institutional investors and hedge funds own 22.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HSHP. Wall Street Zen lowered shares of Himalaya Shipping from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Himalaya Shipping in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Himalaya Shipping currently has a consensus rating of “Hold”.

About Himalaya Shipping

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.