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

Himalaya Shipping (NYSE:HSHP) issued its quarterly earnings data on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $37.40 million for the quarter, compared to the consensus estimate of $41.45 million.

Himalaya Shipping Stock Performance

NYSE:HSHP traded up $0.05 on Friday, hitting $7.73. The stock had a trading volume of 119,224 shares, compared to its average volume of 138,248. Himalaya Shipping has a 52-week low of $4.29 and a 52-week high of $8.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 4.25. The business’s 50-day simple moving average is $8.13 and its two-hundred day simple moving average is $6.98.

Himalaya Shipping Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on HSHP. Weiss Ratings restated a “hold (c)” rating on shares of Himalaya Shipping in a report on Wednesday, October 8th. Wall Street Zen lowered Himalaya Shipping from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Himalaya Shipping presently has an average rating of “Hold”.

Institutional Investors Weigh In On Himalaya Shipping

A number of institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake in Himalaya Shipping by 326.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock worth $52,000 after acquiring an additional 6,909 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Himalaya Shipping in the 2nd quarter valued at approximately $107,000. Creative Planning purchased a new position in shares of Himalaya Shipping in the 2nd quarter worth approximately $108,000. Bank of America Corp DE boosted its holdings in shares of Himalaya Shipping by 29.8% in the 2nd quarter. Bank of America Corp DE now owns 24,506 shares of the company’s stock worth $141,000 after purchasing an additional 5,631 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Himalaya Shipping by 42.4% during the 2nd quarter. Rhumbline Advisers now owns 56,260 shares of the company’s stock valued at $325,000 after purchasing an additional 16,747 shares during the last quarter. Hedge funds and other institutional investors own 22.33% of the company’s stock.

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.