$27.29 Million in Sales Expected for Diana Shipping Inc. (DSX) This Quarter
Wall Street brokerages expect that Diana Shipping Inc. (NYSE:DSX) will announce sales of $27.29 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Diana Shipping’s earnings, with the highest sales estimate coming in at $28.4 million and the lowest estimate coming in at $24.89 million. Diana Shipping reported sales of $30.79 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.4%. The business is expected to announce its next quarterly earnings results on Wednesday, May 17th.
On average, analysts expect that Diana Shipping will report full year sales of $27.29 million for the current financial year, with estimates ranging from $114.31 million to $156.65 million. For the next financial year, analysts expect that the company will post sales of $188.7 million per share, with estimates ranging from $141.42 million to $267.58 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Diana Shipping.
Diana Shipping (NYSE:DSX) last announced its quarterly earnings results on Tuesday, February 14th. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.01. Diana Shipping had a negative net margin of 131.28% and a negative return on equity of 14.09%. The company had revenue of $28 million for the quarter, compared to analysts’ expectations of $28.28 million. During the same quarter in the previous year, the company earned ($0.30) earnings per share. Diana Shipping’s quarterly revenue was down 26.8% on a year-over-year basis.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Diana Shipping from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Tuesday. Jefferies Group LLC lifted their price objective on shares of Diana Shipping from $3.00 to $3.50 and gave the stock a “hold” rating in a research note on Monday, January 23rd. Nordea Equity Research upgraded shares of Diana Shipping from a “hold” rating to a “buy” rating in a report on Friday, January 27th. Finally, JPMorgan Chase & Co. upgraded shares of Diana Shipping from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a report on Friday, April 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Diana Shipping has an average rating of “Hold” and a consensus target price of $4.65.
Shares of Diana Shipping (NYSE:DSX) traded down 8.59% during midday trading on Thursday, reaching $5.11. 849,628 shares of the company’s stock were exchanged. The company’s market cap is $412.65 million. The stock’s 50 day moving average price is $4.62 and its 200 day moving average price is $3.63. Diana Shipping has a 12-month low of $2.11 and a 12-month high of $6.20.
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A number of large investors have recently made changes to their positions in DSX. UBS Oconnor LLC bought a new stake in shares of Diana Shipping during the third quarter worth $2,148,000. Russell Investments Group Ltd. bought a new stake in shares of Diana Shipping during the fourth quarter worth $4,491,000. Royce & Associates LP raised its stake in shares of Diana Shipping by 14.0% in the fourth quarter. Royce & Associates LP now owns 876,933 shares of the shipping company’s stock worth $2,648,000 after buying an additional 107,500 shares during the last quarter. Kopernik Global Investors LLC raised its stake in shares of Diana Shipping by 1.4% in the third quarter. Kopernik Global Investors LLC now owns 4,319,723 shares of the shipping company’s stock worth $11,318,000 after buying an additional 58,183 shares during the last quarter. Finally, Phoenix Investment Adviser LLC bought a new stake in shares of Diana Shipping during the third quarter worth $376,000. Institutional investors own 42.91% of the company’s stock.
About Diana Shipping
Diana Shipping Inc is a holding company. The Company is a provider of shipping transportation services. The Company specializes in the ownership of dry bulk vessels. As of February 16, 2017, the Company’s operating fleet consisted of 48 dry bulk carriers, of which 23 were Panamax, four were Kamsarmax, three were Post-Panamax, 14 were Capesize and four were Newcastlemax vessels, having a combined carrying capacity of approximately 5.7 million deadweight tonnage (dwt).
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