Diana Shipping Inc. (NYSE:DSX – Get Rating) – Equities researchers at Jefferies Financial Group issued their Q1 2024 earnings estimates for shares of Diana Shipping in a research report issued on Friday, August 12th. Jefferies Financial Group analyst O. Nokta expects that the shipping company will post earnings per share of $0.26 for the quarter. Jefferies Financial Group currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Diana Shipping’s current full-year earnings is $1.53 per share. Jefferies Financial Group also issued estimates for Diana Shipping’s Q2 2024 earnings at $0.27 EPS.
A number of other research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Diana Shipping from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Stifel Nicolaus lowered their price objective on shares of 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 report on Tuesday, June 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.83.
Diana Shipping Stock Performance
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DSX opened at $5.79 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.84 and a debt-to-equity ratio of 0.96. The company has a market cap of $529.99 million, a price-to-earnings ratio of 4.23 and a beta of 1.13. The company’s 50 day moving average is $5.17 and its 200 day moving average is $5.03. Diana Shipping has a 12-month low of $3.31 and a 12-month high of $6.89.
Diana Shipping (NYSE:DSX – Get Rating) last issued its quarterly earnings results on Tuesday, May 24th. The shipping company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $64.22 million during the quarter, compared to analyst estimates 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 earned ($0.03) EPS.
Hedge Funds Weigh In On Diana Shipping
Hedge funds and other institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd purchased a new position in shares of Diana Shipping in the 4th quarter valued at about $369,000. Advisor Group Holdings Inc. boosted its stake in shares of Diana Shipping by 421.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 73,490 shares of the shipping company’s stock valued at $286,000 after buying an additional 59,388 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Diana Shipping in the 4th quarter valued at about $42,000. Envestnet Asset Management Inc. purchased a new position in shares of Diana Shipping in the 4th quarter valued at about $738,000. Finally, Wrapmanager Inc. purchased a new position in shares of Diana Shipping in the 4th quarter valued at about $134,000. 36.88% of the stock is currently owned by hedge funds and other institutional investors.
Diana Shipping Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 19.00%. This is a boost from Diana Shipping’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, August 5th. Diana Shipping’s dividend payout ratio (DPR) is 80.29%.
About Diana Shipping
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.
Further Reading
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