Zacks Investment Research upgraded shares of Diana Shipping (NYSE:DSX) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Zacks.com reports. The brokerage currently has $4.00 target price on the shipping company’s stock.
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. “
Separately, ValuEngine raised Diana Shipping from a sell rating to a hold rating in a research note on Wednesday, October 2nd.
NYSE DSX opened at $3.58 on Friday. Diana Shipping has a 12 month low of $2.41 and a 12 month high of $4.09. The stock has a market cap of $346.37 million, a P/E ratio of 35.80 and a beta of 0.89. The stock’s fifty day moving average price is $3.44 and its 200-day moving average price is $3.31.
Diana Shipping (NYSE:DSX) last released its earnings results on Tuesday, July 30th. The shipping company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Diana Shipping had a return on equity of 4.64% and a net margin of 8.22%. The company had revenue of $55.40 million during the quarter, compared to analysts’ expectations of $52.69 million. Diana Shipping’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Diana Shipping will post 0.13 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in shares of Diana Shipping by 126.3% in the second quarter. Acadian Asset Management LLC now owns 23,377 shares of the shipping company’s stock worth $77,000 after acquiring an additional 13,048 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Diana Shipping by 19.1% in the second quarter. Renaissance Technologies LLC now owns 1,259,265 shares of the shipping company’s stock worth $4,168,000 after acquiring an additional 201,765 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Diana Shipping in the second quarter worth $181,000. JPMorgan Chase & Co. grew its stake in shares of Diana Shipping by 29.7% in the second quarter. JPMorgan Chase & Co. now owns 188,675 shares of the shipping company’s stock worth $624,000 after acquiring an additional 43,157 shares during the last quarter. Finally, Lesa Sroufe & Co grew its stake in shares of Diana Shipping by 32.3% in the second quarter. Lesa Sroufe & Co now owns 773,625 shares of the shipping company’s stock worth $2,561,000 after acquiring an additional 188,956 shares during the last quarter. 34.08% of the stock is currently owned by hedge funds and other institutional investors.
About Diana Shipping
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 through its ownership of dry bulk vessels worldwide. As of December 31, 2018, it operated a fleet of 48 dry bulk carriers comprising 20 Panamax, 5 Kamsarmax, 5 Post-Panamax, 14 Capesize, and 4 Newcastlemax vessels.
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