Diana Shipping Inc. (NYSE:DSX – Get Rating) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 2,140,000 shares, an increase of 49.7% from the May 15th total of 1,430,000 shares. Approximately 3.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,200,000 shares, the days-to-cover ratio is presently 1.8 days.
DSX stock traded up $0.27 during trading hours on Wednesday, hitting $5.52. The company’s stock had a trading volume of 44,164 shares, compared to its average volume of 1,016,354. The company has a quick ratio of 1.84, a current ratio of 1.93 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $505.27 million, a PE ratio of 5.41 and a beta of 1.00. Diana Shipping has a 12 month low of $3.31 and a 12 month high of $6.89. The stock has a 50 day moving average price of $5.40 and a two-hundred day moving average price of $4.68.
Diana Shipping (NYSE:DSX – Get Rating) last posted its earnings results on Tuesday, May 24th. The shipping company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. Diana Shipping had a net margin of 35.44% and a return on equity of 17.10%. During the same period in the prior year, the business earned ($0.03) earnings per share. Sell-side analysts expect that Diana Shipping will post 1.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Monday, June 6th will be issued a dividend of $0.25 per share. This is an increase from Diana Shipping’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 18.12%. The ex-dividend date is Friday, June 3rd. Diana Shipping’s dividend payout ratio is currently 103.09%.
Several hedge funds and other institutional investors have recently bought and sold shares of DSX. Morgan Stanley boosted its holdings in shares of Diana Shipping by 118.1% during the 3rd quarter. Morgan Stanley now owns 1,588,794 shares of the shipping company’s stock worth $9,088,000 after buying an additional 860,453 shares during the period. Dorsey Wright & Associates boosted its holdings in shares of Diana Shipping by 6,848.7% during the 4th quarter. Dorsey Wright & Associates now owns 686,875 shares of the shipping company’s stock worth $2,672,000 after buying an additional 676,990 shares during the period. Millennium Management LLC boosted its holdings in shares of Diana Shipping by 179.9% during the 3rd quarter. Millennium Management LLC now owns 796,616 shares of the shipping company’s stock worth $4,557,000 after buying an additional 511,965 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Diana Shipping by 97.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,020,071 shares of the shipping company’s stock worth $5,835,000 after buying an additional 502,279 shares during the period. Finally, Hosking Partners LLP boosted its holdings in shares of Diana Shipping by 6.2% during the 4th quarter. Hosking Partners LLP now owns 5,218,653 shares of the shipping company’s stock worth $20,301,000 after buying an additional 305,181 shares during the period. 36.88% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on DSX shares. TheStreet upgraded shares of Diana Shipping from a “d+” rating to a “c-” rating in a research note on Tuesday, March 1st. Jefferies Financial Group assumed coverage on shares of Diana Shipping in a research note on Wednesday, April 27th. They issued a “hold” rating on the stock. Finally, StockNews.com downgraded shares of Diana Shipping from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Diana Shipping has an average rating of “Hold” and a consensus price target of $7.25.
About Diana Shipping (Get Rating)
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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