Diana Shipping (NYSE:DSX) Releases Earnings Results, Beats Estimates By $0.14 EPS

Key Points

• Diana Shipping reported quarterly EPS of $0.16, beating analyst estimates of $0.02 by $0.14, while revenue of $57.29 million also exceeded expectations.
• The stock rose 5% to $2.42 during Friday trading. Diana Shipping has a market capitalization of approximately $300 million and trades at a P/E ratio of 6.90.
• The company declared a quarterly dividend of $0.01, equivalent to $0.04 annually and a 1.7% yield. Analysts maintain a consensus “Hold” rating, despite one recent upgrade to “Buy.”

Diana Shipping (NYSE:DSX - Get Free Report) announced its quarterly earnings data on Friday. The shipping company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14, Zacks reports. The business had revenue of $57.29 million during the quarter, compared to the consensus estimate of $54.60 million. Diana Shipping had a return on equity of 4.56% and a net margin of 20.61%.

Diana Shipping Trading Up 5.0%

NYSE DSX traded up $0.12 during trading hours on Friday, reaching $2.42. The company's stock had a trading volume of 1,445,681 shares, compared to its average volume of 742,281. The firm has a fifty day simple moving average of $2.24 and a 200-day simple moving average of $2.37. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.73 and a quick ratio of 2.69. Diana Shipping has a 52 week low of $1.46 and a 52 week high of $2.91. The stock has a market cap of $300.43 million, a P/E ratio of 6.90 and a beta of 0.51.

Diana Shipping Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.04 annualized dividend and a dividend yield of 1.7%. Diana Shipping's dividend payout ratio is currently 11.43%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DSX. Weiss Ratings reiterated a "hold (c-)" rating on shares of Diana Shipping in a research report on Monday, July 20th. Wall Street Zen upgraded shares of Diana Shipping from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Hedge Funds Weigh In On Diana Shipping

Several large investors have recently modified their holdings of the business. Squarepoint Ops LLC bought a new stake in shares of Diana Shipping in the third quarter worth $278,000. Two Sigma Investments LP lifted its holdings in Diana Shipping by 407.4% during the 3rd quarter. Two Sigma Investments LP now owns 80,684 shares of the shipping company's stock worth $136,000 after buying an additional 64,784 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Diana Shipping by 66.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 70,879 shares of the shipping company's stock valued at $118,000 after buying an additional 28,384 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Diana Shipping in the fourth quarter valued at about $300,000. Finally, Renaissance Technologies LLC increased its stake in shares of Diana Shipping by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,361,713 shares of the shipping company's stock valued at $3,920,000 after buying an additional 246,300 shares during the period. Institutional investors own 48.68% of the company's stock.

Diana Shipping Company Profile

Diana Shipping Inc is a global shipping company incorporated in the Republic of the Marshall Islands and headquartered in Athens, Greece. The company specializes in the ownership and operation of dry bulk vessels that transport a variety of commodities, including coal, iron ore, grains, fertilizers, steel products and other bulk materials. Diana Shipping’s fleet comprises Panamax, Capesize, Newcastlemax and Supramax/Newcastlemax segments, enabling it to address the needs of customers on key global trade routes.

The company conducts its operations by chartering vessels on short‐term voyage charters and longer‐term period charters.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.