Diana Shipping (NYSE:DSX) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Diana Shipping's shares recently crossed above their 200-day moving average of $1.58, reaching a high of $1.85 before settling at $1.83 with a trading volume of 287,962 shares.
• Wall Street Zen downgraded the stock's rating from "hold" to "sell", indicating a cautious outlook on the stock's future performance.
• The company announced a $0.01 quarterly dividend, resulting in an annualized dividend yield of 2.2%, with a payout ratio of 66.67%.

Shares of Diana Shipping inc. (NYSE:DSX - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.58 and traded as high as $1.85. Diana Shipping shares last traded at $1.83, with a volume of 287,962 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Diana Shipping from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th.

Diana Shipping Stock Down 1.1%

The company has a debt-to-equity ratio of 1.13, a current ratio of 2.29 and a quick ratio of 2.24. The company has a market cap of $211.86 million, a price-to-earnings ratio of 30.51 and a beta of 0.82. The firm's 50 day simple moving average is $1.66 and its 200-day simple moving average is $1.58.

Diana Shipping (NYSE:DSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Diana Shipping had a net margin of 9.36% and a return on equity of 4.09%. The company had revenue of $54.69 million during the quarter, compared to the consensus estimate of $52.55 million.

Diana Shipping Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, August 21st. Diana Shipping's dividend payout ratio is currently 66.67%.

Institutional Investors Weigh In On Diana Shipping

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pekin Hardy Strauss Inc. raised its holdings in shares of Diana Shipping by 17.2% in the second quarter. Pekin Hardy Strauss Inc. now owns 2,841,710 shares of the shipping company's stock valued at $4,149,000 after buying an additional 417,275 shares during the last quarter. Vident Advisory LLC raised its holdings in shares of Diana Shipping by 213.5% in the first quarter. Vident Advisory LLC now owns 459,051 shares of the shipping company's stock valued at $716,000 after buying an additional 312,603 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Diana Shipping in the fourth quarter valued at about $272,000. Mackenzie Financial Corp purchased a new stake in shares of Diana Shipping in the first quarter valued at about $212,000. Finally, Blair William & Co. IL purchased a new stake in shares of Diana Shipping in the first quarter valued at about $78,000. 48.68% of the stock is owned by hedge funds and other institutional investors.

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.

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