Diana Shipping Inc. (NYSE:DSX – Get Rating) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 1,430,000 shares, a decline of 30.6% from the April 30th total of 2,060,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,020,000 shares, the days-to-cover ratio is presently 1.4 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DSX. Morgan Stanley increased its stake in Diana Shipping by 118.1% in the third quarter. Morgan Stanley now owns 1,588,794 shares of the shipping company’s stock valued at $9,088,000 after purchasing an additional 860,453 shares during the last quarter. Dorsey Wright & Associates increased its stake in Diana Shipping by 6,848.7% in the fourth quarter. Dorsey Wright & Associates now owns 686,875 shares of the shipping company’s stock valued at $2,672,000 after purchasing an additional 676,990 shares during the last quarter. Millennium Management LLC increased its stake in Diana Shipping by 179.9% in the third quarter. Millennium Management LLC now owns 796,616 shares of the shipping company’s stock valued at $4,557,000 after purchasing an additional 511,965 shares during the last quarter. Two Sigma Advisers LP increased its stake in Diana Shipping by 97.0% in the third quarter. Two Sigma Advisers LP now owns 1,020,071 shares of the shipping company’s stock valued at $5,835,000 after purchasing an additional 502,279 shares during the last quarter. Finally, Hosking Partners LLP increased its stake in Diana Shipping by 6.2% in the fourth quarter. Hosking Partners LLP now owns 5,218,653 shares of the shipping company’s stock valued at $20,301,000 after purchasing an additional 305,181 shares during the last quarter. 36.88% of the stock is owned by institutional investors.
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DSX has been the topic of a number of analyst reports. StockNews.com downgraded Diana Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. TheStreet upgraded Diana Shipping from a “d+” rating to a “c-” rating in a research note on Tuesday, March 1st. Zacks Investment Research upgraded Diana Shipping from a “hold” rating to a “strong-buy” rating and set a $7.25 price target on the stock in a research note on Friday. Finally, Jefferies Financial Group started coverage on Diana Shipping in a research report on Wednesday, April 27th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.94.
NYSE DSX opened at $6.42 on Friday. Diana Shipping has a fifty-two week low of $3.31 and a fifty-two week high of $6.49. The stock has a market cap of $587.69 million, a price-to-earnings ratio of 6.62 and a beta of 1.03. The business has a fifty day moving average of $5.21 and a 200-day moving average of $4.54. The company has a quick ratio of 1.84, a current ratio of 1.93 and a debt-to-equity ratio of 1.15.
Diana Shipping (NYSE:DSX – Get Rating) last released its quarterly earnings results on Tuesday, May 24th. The shipping company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Diana Shipping had a return on equity of 17.10% and a net margin of 35.44%. During the same period in the previous year, the business earned ($0.03) earnings per share. As a group, analysts anticipate that Diana Shipping will post 1.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Monday, June 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 15.58%. This is a boost from Diana Shipping’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, June 3rd. Diana Shipping’s payout ratio is 82.48%.
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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