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

Diana Shipping (NYSE:DSX - Get Free Report) released its quarterly earnings results on Friday, July 31st. The shipping company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.14, Zacks reports. The firm had revenue of $57.29 million for the quarter, compared to analysts' expectations of $54.60 million. Diana Shipping had a return on equity of 7.55% and a net margin of 27.88%.

Diana Shipping Stock Up 1.3%

Shares of DSX stock opened at $2.73 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 2.01 and a debt-to-equity ratio of 0.92. Diana Shipping has a 12 month low of $1.57 and a 12 month high of $2.91. The stock has a market cap of $340.26 million, a P/E ratio of 5.70 and a beta of 0.51. The company has a 50 day simple moving average of $2.28 and a two-hundred day simple moving average of $2.42.

Diana Shipping Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Diana Shipping's dividend payout ratio is currently 8.33%.

Institutional Investors Weigh In On Diana Shipping

A number of hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Diana Shipping in the 4th quarter worth $112,000. Mackenzie Financial Corp lifted its position in Diana Shipping by 46.4% during the fourth quarter. Mackenzie Financial Corp now owns 190,774 shares of the shipping company's stock valued at $326,000 after purchasing an additional 60,430 shares in the last quarter. XTX Topco Ltd lifted its position in Diana Shipping by 84.1% during the fourth quarter. XTX Topco Ltd now owns 144,901 shares of the shipping company's stock valued at $241,000 after purchasing an additional 66,212 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Diana Shipping by 11.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,361,713 shares of the shipping company's stock valued at $3,920,000 after purchasing an additional 246,300 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in Diana Shipping during the fourth quarter valued at about $300,000. Institutional investors own 48.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on DSX shares. Wall Street Zen raised Diana Shipping from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of Diana Shipping in a report on Monday, July 20th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

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.

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