Diana Shipping inc. (DSX) Downgraded by Zacks Investment Research to “Hold”
Diana Shipping inc. (NYSE:DSX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
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 research analysts have also issued reports about the company. Stifel Nicolaus set a $5.00 price target on Diana Shipping inc. and gave the stock a “hold” rating in a research report on Sunday. BidaskClub lowered Diana Shipping inc. from a “hold” rating to a “sell” rating in a research report on Sunday, July 30th. J P Morgan Chase & Co upgraded Diana Shipping inc. from a “neutral” rating to an “overweight” rating in a research report on Tuesday, July 4th. ValuEngine lowered Diana Shipping inc. from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and set a $4.50 price target on shares of Diana Shipping inc. in a research report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $4.33.
Shares of Diana Shipping inc. (DSX) remained flat at $4.07 during midday trading on Monday. 659,661 shares of the company’s stock were exchanged. Diana Shipping inc. has a 52-week low of $2.36 and a 52-week high of $6.20. The stock’s market cap is $393.53 million. The firm’s 50 day moving average price is $3.97 and its 200-day moving average price is $4.06.
Diana Shipping inc. (NYSE:DSX) last released its quarterly earnings results on Wednesday, July 26th. The shipping company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Diana Shipping inc. had a negative return on equity of 14.80% and a negative net margin of 122.29%. The firm had revenue of $37.75 million for the quarter, compared to analysts’ expectations of $36.21 million. During the same quarter in the prior year, the business earned ($0.41) earnings per share. The company’s quarterly revenue was up 33.3% on a year-over-year basis. On average, equities research analysts expect that Diana Shipping inc. will post ($0.96) earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its stake in shares of Diana Shipping inc. by 99.7% in the first quarter. Morgan Stanley now owns 317,079 shares of the shipping company’s stock valued at $1,464,000 after acquiring an additional 158,283 shares in the last quarter. UBS Oconnor LLC acquired a new stake in shares of Diana Shipping inc. in the third quarter valued at $2,148,000. Pinnacle Associates Ltd. raised its stake in shares of Diana Shipping inc. by 55.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 2,759,625 shares of the shipping company’s stock valued at $12,004,000 after acquiring an additional 989,075 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Diana Shipping inc. in the fourth quarter valued at $4,491,000. Finally, Hosking Partners LLP raised its stake in shares of Diana Shipping inc. by 58.0% in the second quarter. Hosking Partners LLP now owns 3,559,973 shares of the shipping company’s stock valued at $14,453,000 after acquiring an additional 1,306,125 shares in the last quarter. Institutional investors and hedge funds own 37.31% 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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