Diana Shipping (NYSE:DSX) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Diana Shipping reported earnings of $0.03 per share, exceeding analysts' expectations of $0.02, with quarterly revenue reaching $54.69 million.
• The company announced a quarterly dividend of $0.01, set to be paid on September 11th, representing a 2.7% dividend yield.
• Diana Shipping's stock price decreased by 1.6%, closing at $1.51, and Wall Street analysts recently upgraded the stock's rating from "sell" to "hold."

Diana Shipping (NYSE:DSX - Get Free Report) posted its earnings results on Wednesday. The shipping company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01, Zacks reports. The firm had revenue of $54.69 million during the quarter, compared to analyst estimates of $52.55 million. Diana Shipping had a return on equity of 4.09% and a net margin of 9.36%.

Diana Shipping Price Performance

Shares of Diana Shipping stock traded up $0.03 during trading on Tuesday, reaching $1.54. 74,107 shares of the company's stock were exchanged, compared to its average volume of 285,519. The company has a market cap of $177.71 million, a P/E ratio of 25.59 and a beta of 0.81. Diana Shipping has a 1-year low of $1.27 and a 1-year high of $2.63. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.52 and a current ratio of 2.58. The firm's 50-day moving average price is $1.57 and its 200 day moving average price is $1.62.

Diana Shipping Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.04 annualized dividend and a yield of 2.6%. Diana Shipping's payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Diana Shipping from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th.

Diana Shipping Company Profile

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 worldwide. As of March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.