Diana Shipping (NYSE:DSX – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday, Zacks.com reports. The firm presently has a $7.25 price objective on the shipping company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.93% from the company’s current price.
According to Zacks, “Diana Shipping Inc. is a global provider of shipping transportation services. They specialize in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. “
DSX has been the topic of several other reports. StockNews.com lowered Diana Shipping from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. Jefferies Financial Group began coverage on Diana Shipping in a research note on Wednesday, April 27th. They issued a “hold” rating on the stock. Finally, TheStreet raised shares of Diana Shipping from a “d+” rating to a “c-” rating in a research report on Tuesday, March 1st. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $6.94.
Diana Shipping stock traded up $0.17 during trading on Friday, hitting $6.42. The company’s stock had a trading volume of 1,454,214 shares, compared to its average volume of 911,347. The stock’s fifty day moving average is $5.21 and its 200 day moving average is $4.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.84 and a current ratio of 1.93. Diana Shipping has a 1-year low of $3.31 and a 1-year high of $6.49. The stock has a market capitalization of $587.65 million, a price-to-earnings ratio of 10.19 and a beta of 1.03.
Diana Shipping (NYSE:DSX – Get Rating) last posted its quarterly earnings data on Tuesday, May 24th. The shipping company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Diana Shipping had a net margin of 26.79% and a return on equity of 10.32%. During the same quarter in the prior year, the company posted ($0.03) earnings per share. On average, research analysts anticipate that Diana Shipping will post 1.5 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada purchased a new stake in Diana Shipping during the 2nd quarter worth $55,000. Morgan Stanley grew its position in shares of Diana Shipping by 20.7% during the second quarter. Morgan Stanley now owns 728,341 shares of the shipping company’s stock worth $3,795,000 after buying an additional 125,041 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in shares of Diana Shipping by 66.2% in the third quarter. Advisor Group Holdings Inc. now owns 14,102 shares of the shipping company’s stock worth $81,000 after buying an additional 5,615 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Diana Shipping by 8.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,149,503 shares of the shipping company’s stock valued at $6,575,000 after acquiring an additional 86,316 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Diana Shipping by 9.7% during the 3rd quarter. Renaissance Technologies LLC now owns 1,429,419 shares of the shipping company’s stock valued at $8,176,000 after acquiring an additional 126,400 shares during the last quarter. Institutional investors and hedge funds own 36.88% of the company’s stock.
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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