Wall Street analysts expect Diana Shipping Inc (NYSE:DSX) to post $61.71 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Diana Shipping’s earnings, with the highest sales estimate coming in at $69.00 million and the lowest estimate coming in at $58.30 million. Diana Shipping reported sales of $45.92 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 34.4%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 28th.
On average, analysts expect that Diana Shipping will report full year sales of $220.32 million for the current year, with estimates ranging from $215.51 million to $234.00 million. For the next financial year, analysts forecast that the company will post sales of $251.47 million, with estimates ranging from $229.07 million to $300.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Diana Shipping.
Diana Shipping (NYSE:DSX) last announced its earnings results on Monday, November 26th. The shipping company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.08. Diana Shipping had a negative net margin of 201.14% and a negative return on equity of 0.13%. The firm had revenue of $61.50 million for the quarter, compared to analyst estimates of $56.52 million. During the same quarter last year, the business earned ($0.25) earnings per share. Diana Shipping’s revenue was up 40.1% compared to the same quarter last year.
A number of brokerages recently issued reports on DSX. ValuEngine upgraded shares of Diana Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Diana Shipping from a “hold” rating to a “strong-buy” rating and set a $4.75 target price on the stock in a research report on Wednesday, October 3rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Diana Shipping currently has an average rating of “Hold” and a consensus price target of $4.75.
Shares of NYSE DSX opened at $3.46 on Friday. Diana Shipping has a 1 year low of $3.03 and a 1 year high of $5.16. The company has a market cap of $371.46 million, a P/E ratio of -4.38 and a beta of 1.30.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Diana Shipping by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 265,921 shares of the shipping company’s stock worth $1,095,000 after acquiring an additional 33,661 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Diana Shipping in the 2nd quarter valued at $213,000. DNB Asset Management AS boosted its holdings in shares of Diana Shipping by 37.4% in the 3rd quarter. DNB Asset Management AS now owns 183,521 shares of the shipping company’s stock valued at $756,000 after purchasing an additional 50,000 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Diana Shipping by 5.6% in the 3rd quarter. Royce & Associates LP now owns 1,505,733 shares of the shipping company’s stock valued at $6,204,000 after purchasing an additional 80,000 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Diana Shipping by 22.5% in the 3rd quarter. Morgan Stanley now owns 550,310 shares of the shipping company’s stock valued at $2,267,000 after purchasing an additional 101,193 shares during the last quarter. Hedge funds and other institutional investors own 37.47% of the company’s stock.
About Diana Shipping
Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including iron ore, coal, and grains, as well as steel products, cement, and fertilizers through its ownership of dry bulk vessels worldwide. As of December 31, 2017, it operated a fleet of 50 dry bulk carriers, including 22 Panamax, 5 Kamsarmax, 5 Post-Panamax, 14 Capesize, and 4 Newcastlemax vessels.
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