Performance Shipping (PSHG) Expected to Announce Quarterly Earnings on Wednesday

Performance Shipping (NASDAQ:PSHG) will likely be posting its results before the market opens on Wednesday, June 3rd. Analysts expect Performance Shipping to post earnings of $0.2315 per share and revenue of $31.7780 million for the quarter.

Performance Shipping (NASDAQ:PSHG) last announced its earnings results on Tuesday, May 26th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Performance Shipping had a return on equity of 15.90% and a net margin of 59.37%.The company had revenue of $33.77 million for the quarter, compared to analyst estimates of $31.48 million.

Performance Shipping Trading Up 3.0%

Shares of NASDAQ:PSHG opened at $1.70 on Wednesday. The business’s 50-day moving average is $1.85 and its 200 day moving average is $2.06. Performance Shipping has a 1 year low of $1.52 and a 1 year high of $2.58. The firm has a market capitalization of $21.13 million, a P/E ratio of 1.33 and a beta of -0.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.22 and a quick ratio of 2.18.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Performance Shipping from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Performance Shipping currently has an average rating of “Hold”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Performance Shipping stock. Renaissance Technologies LLC grew its position in Performance Shipping Inc. (NASDAQ:PSHG) by 39.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,948 shares of the company’s stock after purchasing an additional 53,248 shares during the period. Renaissance Technologies LLC owned approximately 1.53% of Performance Shipping worth $405,000 at the end of the most recent quarter. 19.90% of the stock is currently owned by institutional investors and hedge funds.

Performance Shipping Company Profile

Performance Shipping Inc, incorporated in the Republic of the Marshall Islands and trading on NASDAQ under the ticker PSHG, is a publicly listed dry bulk shipping company. The company owns and operates a modern fleet of Supramax and Ultramax vessels, which are well-suited for the seaborne transportation of a wide range of dry bulk commodities. Performance Shipping’s vessels carry cargoes such as grains, coal, iron ore, steel products and fertilizer under medium‐ to long‐term time charter agreements with a diverse set of global charterers.

Since completing its initial public offering in late 2014, Performance Shipping has focused on disciplined growth through vessel acquisitions and the renewal of charter contracts to maintain steady cash flows.