Diana Shipping Inc. (NYSE:DSX – Get Rating) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 2,960,000 shares, a growth of 41.6% from the June 30th total of 2,090,000 shares. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is currently 2.5 days. Approximately 3.6% of the shares of the stock are sold short.
Diana Shipping Trading Up 3.7 %
Shares of NYSE DSX traded up $0.20 during trading hours on Friday, hitting $5.65. The company’s stock had a trading volume of 1,463,343 shares, compared to its average volume of 993,933. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.84 and a current ratio of 1.93. The stock has a market cap of $517.17 million, a price-to-earnings ratio of 5.82 and a beta of 1.09. Diana Shipping has a 12 month low of $3.31 and a 12 month high of $6.89. The business has a 50-day simple moving average of $5.24 and a 200-day simple moving average of $4.87.
Diana Shipping (NYSE:DSX – Get Rating) last posted its 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 for the quarter, compared to analysts’ expectations of $64.14 million. Diana Shipping had a return on equity of 17.10% and a net margin of 35.44%. During the same period last year, the firm earned ($0.03) earnings per share. On average, analysts anticipate that Diana Shipping will post 1.52 earnings per share for the current fiscal year.
Diana Shipping Increases Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 8th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 19.47%. 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 payout ratio is presently 103.09%.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Stifel Nicolaus decreased their price objective on Diana Shipping from $8.00 to $7.00 in a report on Tuesday, July 19th. Jefferies Financial Group assumed coverage on Diana Shipping in a report on Wednesday, July 20th. They issued a “buy” rating and a $7.00 price objective on the stock. StockNews.com downgraded Diana Shipping from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Finally, Clarkson Capital reiterated a “buy” rating on shares of Diana Shipping in a report on Tuesday, June 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.83.
Institutional Trading of Diana Shipping
Large investors have recently bought and sold shares of the company. Hosking Partners LLP boosted its position in shares of Diana Shipping by 6.2% in the 4th quarter. Hosking Partners LLP now owns 5,218,653 shares of the shipping company’s stock worth $20,301,000 after purchasing an additional 305,181 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Diana Shipping by 0.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,391,419 shares of the shipping company’s stock worth $7,514,000 after purchasing an additional 6,971 shares in the last quarter. Royce & Associates LP boosted its position in shares of Diana Shipping by 2.3% in the 1st quarter. Royce & Associates LP now owns 1,028,529 shares of the shipping company’s stock worth $5,554,000 after purchasing an additional 23,300 shares in the last quarter. Lesa Sroufe & Co boosted its position in shares of Diana Shipping by 2.5% in the 1st quarter. Lesa Sroufe & Co now owns 629,948 shares of the shipping company’s stock worth $2,236,000 after purchasing an additional 15,209 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Diana Shipping by 8.4% in the 1st quarter. Raymond James & Associates now owns 303,811 shares of the shipping company’s stock worth $1,641,000 after purchasing an additional 23,608 shares in the last quarter. 36.88% of the stock is owned by institutional investors.
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.
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