Zacks Investment Research Upgrades Diana Shipping inc. (DSX) to Buy
Diana Shipping inc. (NYSE:DSX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $4.25 target price on the shipping company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.32% from the stock’s previous close.
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. “
Other analysts have also issued reports about the company. Jefferies Group LLC lifted their price target on Diana Shipping inc. from $3.50 to $5.00 and gave the stock a “hold” rating in a report on Monday, April 24th. J P Morgan Chase & Co upgraded Diana Shipping inc. from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a report on Friday, April 7th. BidaskClub lowered Diana Shipping inc. from a “buy” rating to a “hold” rating in a report on Saturday. Credit Suisse Group set a $3.00 price target on Diana Shipping inc. and gave the stock a “hold” rating in a report on Saturday, April 22nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $5.25 price target on shares of Diana Shipping inc. in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $4.36.
Shares of Diana Shipping inc. (NYSE:DSX) traded up 3.13% during midday trading on Tuesday, hitting $3.96. The stock had a trading volume of 477,814 shares. The firm’s market cap is $321.76 million. Diana Shipping inc. has a 52 week low of $2.21 and a 52 week high of $6.20. The company’s 50 day moving average is $3.79 and its 200 day moving average is $4.00.
Diana Shipping inc. (NYSE:DSX) last announced its earnings results on Tuesday, May 23rd. The shipping company reported ($0.34) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. The company had revenue of $31.30 million for the quarter, compared to analysts’ expectations of $28.69 million. Diana Shipping inc. had a negative return on equity of 15.25% and a negative net margin of 138.84%. Diana Shipping inc.’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. On average, equities analysts predict that Diana Shipping inc. will post ($0.99) earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of DSX. Ironwood Investment Management LLC raised its stake in shares of Diana Shipping inc. by 1.4% in the first quarter. Ironwood Investment Management LLC now owns 30,192 shares of the shipping company’s stock worth $139,000 after buying an additional 426 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Diana Shipping inc. during the first quarter valued at about $205,000. Horseman Capital Management Ltd purchased a new stake in shares of Diana Shipping inc. during the first quarter valued at about $469,000. Macquarie Group Ltd. raised its stake in shares of Diana Shipping inc. by 41.1% in the fourth quarter. Macquarie Group Ltd. now owns 174,750 shares of the shipping company’s stock valued at $528,000 after buying an additional 50,900 shares during the last quarter. Finally, DnB Asset Management AS purchased a new stake in shares of Diana Shipping inc. during the second quarter valued at about $741,000. Institutional investors and hedge funds own 33.79% of the company’s stock.
About Diana Shipping inc.
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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