Diana Shipping inc. (DSX) Rating Lowered to Sell at Zacks Investment Research
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. “
Several other brokerages have also recently weighed in on DSX. Jefferies Group restated a hold rating and set a $2.50 target price on shares of Diana Shipping inc. in a report on Wednesday, July 6th. Deutsche Bank AG upgraded Diana Shipping inc. from a sell rating to a hold rating and increased their target price for the company from $1.50 to $2.50 in a report on Friday, August 26th. Finally, Seaport Global Securities started coverage on Diana Shipping inc. in a report on Tuesday, August 2nd. They set a neutral rating and a $3.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Diana Shipping inc. has a consensus rating of Hold and a consensus price target of $4.00.
Shares of Diana Shipping inc. (NYSE:DSX) opened at 2.62 on Tuesday. Diana Shipping inc. has a 12-month low of $1.95 and a 12-month high of $7.29. The company’s market cap is $211.00 million. The stock’s 50 day moving average price is $2.55 and its 200 day moving average price is $2.63.
Diana Shipping inc. (NYSE:DSX) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by $0.01. The firm had revenue of $28.30 million for the quarter, compared to the consensus estimate of $28.07 million. Diana Shipping inc. had a negative net margin of 75.27% and a negative return on equity of 8.54%. Diana Shipping inc.’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) earnings per share. On average, analysts forecast that Diana Shipping inc. will post ($1.65) EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gruss & Co. Inc. purchased a new position in shares of Diana Shipping inc. during the second quarter valued at about $122,000. Ingalls & Snyder LLC purchased a new position in shares of Diana Shipping inc. during the second quarter valued at about $143,000. California Public Employees Retirement System raised its position in shares of Diana Shipping inc. by 97.5% in the second quarter. California Public Employees Retirement System now owns 93,200 shares of the company’s stock valued at $226,000 after buying an additional 46,000 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Diana Shipping inc. by 27.1% in the second quarter. Macquarie Group Ltd. now owns 102,050 shares of the company’s stock valued at $248,000 after buying an additional 21,750 shares in the last quarter. Finally, State Street Corp raised its position in shares of Diana Shipping inc. by 2.2% in the second quarter. State Street Corp now owns 113,366 shares of the company’s stock valued at $275,000 after buying an additional 2,490 shares in the last quarter. 45.18% of the stock is owned by hedge funds and other institutional investors.
Diana Shipping inc. Company Profile
Diana Shipping Inc is a holding company. The Company is engaged in providing shipping transportation services. The Company is also engaged in the ocean transportation of dry bulk cargoes across the world through the ownership of dry bulk carrier vessels. Its fleet consists of over 45 dry bulk vessels, of which 22 are Panamax, four are Kamsarmax, three are Post-Panamax, 14 are Capesize and two are Newcastlemax vessels, having a combined carrying capacity of over 5.2 million dead weight tons.
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