Diana Shipping Inc. (NYSE:DSX – Get Rating) shares fell 8.1% during trading on Friday . The stock traded as low as $5.70 and last traded at $5.71. 10,510 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 896,985 shares. The stock had previously closed at $6.21.
Analysts Set New Price Targets
Several research firms have issued reports on DSX. StockNews.com raised Diana Shipping from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group assumed coverage on Diana Shipping in a research note on Wednesday, July 20th. They issued a “buy” rating and a $7.00 price target on the stock. Stifel Nicolaus cut their price target on Diana Shipping from $8.00 to $7.00 in a research note on Tuesday, July 19th. Finally, Clarkson Capital reissued a “buy” rating on shares of Diana Shipping in a research note on Tuesday, June 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Diana Shipping currently has an average rating of “Moderate Buy” and a consensus target price of $7.83.
Diana Shipping Stock Performance
The stock’s 50-day moving average is $5.22 and its 200 day moving average is $4.94. The firm has a market cap of $549.24 million, a P/E ratio of 4.38 and a beta of 1.13. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.84 and a current ratio of 1.93.
Diana Shipping (NYSE:DSX – Get Rating) last issued its earnings results on Tuesday, May 24th. The shipping company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $64.22 million during the quarter, compared to the consensus estimate of $64.14 million. Diana Shipping had a net margin of 44.08% and a return on equity of 25.03%. During the same period last year, the business posted ($0.03) EPS. On average, research analysts predict that Diana Shipping Inc. will post 1.53 earnings per share for the current year.
Diana Shipping Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 18.33%. The ex-dividend date of this dividend is Friday, August 5th. This is a boost from Diana Shipping’s previous quarterly dividend of $0.10. Diana Shipping’s payout ratio is presently 72.99%.
Hedge Funds Weigh In On Diana Shipping
A number of hedge funds have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. bought a new stake in Diana Shipping in the first quarter valued at $27,000. Mercer Global Advisors Inc. ADV bought a new stake in Diana Shipping in the fourth quarter valued at $42,000. Lazard Asset Management LLC bought a new stake in Diana Shipping in the fourth quarter valued at $51,000. GSA Capital Partners LLP bought a new stake in Diana Shipping in the first quarter valued at $56,000. Finally, Clear Street Markets LLC increased its stake in Diana Shipping by 287.5% in the second quarter. Clear Street Markets LLC now owns 12,400 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 9,200 shares in the last quarter. Institutional investors and hedge funds own 36.88% of the company’s stock.
Diana Shipping Company Profile
Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of April 13, 2022, it operated a fleet of 35 dry bulk vessels, including 4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 6 Kamsarmax, and 8 Panamax.
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