Himalaya Shipping (NYSE:HSHP) Issues Earnings Results, Meets Estimates

Himalaya Shipping (NYSE:HSHP) issued its earnings results on Tuesday. The company reported $0.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.71, FiscalAI reports. Himalaya Shipping had a net margin of 31.44% and a return on equity of 32.83%. The company had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $61.51 million.

Himalaya Shipping Stock Performance

Shares of NYSE:HSHP traded up $0.53 during trading on Wednesday, hitting $16.46. The company’s stock had a trading volume of 101,817 shares, compared to its average volume of 367,076. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $767.91 million, a price-to-earnings ratio of 14.56 and a beta of 1.39. The company has a 50-day moving average of $17.28 and a 200-day moving average of $14.92. Himalaya Shipping has a 12 month low of $7.95 and a 12 month high of $19.55.

Himalaya Shipping Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, October 27th. Stockholders of record on Monday, October 19th were paid a $0.28 dividend. This is a boost from Himalaya Shipping’s previous dividend of $0.25. The ex-dividend date was Friday, October 16th.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HSHP. Clarkson Capital raised Himalaya Shipping from a “neutral” rating to a “buy” rating in a report on Thursday, August 20th. Weiss Ratings downgraded Himalaya Shipping from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. is a dry bulk shipping company incorporated in Bermuda. It owns and operates Newcastlemax vessels, large bulk carriers designed to transport commodities such as iron ore, coal and grain. The company’s fleet is equipped with dual-fuel engines that can run on liquefied natural gas as well as conventional marine fuel. Its vessels serve international bulk shipping routes, carrying cargo between major commodity-producing and consuming regions. Himalaya Shipping began building its fleet in the early 2020s and became a publicly traded company in 2023.