Diana Shipping (NYSE:DSX) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Diana Shipping (NYSE:DSXGet Rating) announced its earnings results on Tuesday. The shipping company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03, Fidelity Earnings reports. Diana Shipping had a net margin of 26.79% and a return on equity of 10.32%. During the same period in the prior year, the business posted ($0.03) earnings per share.

NYSE DSX opened at $6.36 on Wednesday. The stock has a market cap of $582.16 million, a PE ratio of 10.10 and a beta of 1.03. Diana Shipping has a fifty-two week low of $3.31 and a fifty-two week high of $6.49. The business has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $4.51. The company has a quick ratio of 1.84, a current ratio of 1.93 and a debt-to-equity ratio of 0.97.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Shareholders 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 yield of 15.72%. The ex-dividend date of this dividend is Friday, June 3rd. This is a boost from Diana Shipping’s previous quarterly dividend of $0.20. Diana Shipping’s dividend payout ratio is currently 126.99%.

DSX has been the subject of several recent analyst reports. Zacks Investment Research upgraded Diana Shipping from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 1st. Jefferies Financial Group assumed coverage on Diana Shipping in a report on Wednesday, April 27th. They set a “hold” rating for the company. StockNews.com cut Diana Shipping from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Finally, TheStreet upgraded Diana Shipping from a “d+” rating to a “c-” rating in a report on Tuesday, March 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.63.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSX. Royal Bank of Canada purchased a new position in Diana Shipping in the 2nd quarter worth approximately $55,000. Morgan Stanley boosted its holdings in Diana Shipping by 20.7% in the 2nd quarter. Morgan Stanley now owns 728,341 shares of the shipping company’s stock worth $3,795,000 after acquiring an additional 125,041 shares during the period. Invesco Ltd. raised its position in shares of Diana Shipping by 3.6% in the 3rd quarter. Invesco Ltd. now owns 155,055 shares of the shipping company’s stock valued at $887,000 after purchasing an additional 5,418 shares in the last quarter. LPL Financial LLC acquired a new position in shares of Diana Shipping in the 3rd quarter valued at approximately $58,000. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Diana Shipping in the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors 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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Earnings History for Diana Shipping (NYSE:DSX)

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