Diana Shipping (NYSE:DSX) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Diana Shipping shares moved above their 200-day moving average, reaching $2.69 before closing at $2.6450, compared with a 200-day average of $2.41.
• The company reported quarterly EPS of $0.16, beating estimates of $0.02, while revenue of $57.29 million also exceeded expectations. Despite one upgrade to “strong-buy,” the analyst consensus remains “Hold.”
• Diana Shipping announced a quarterly dividend of $0.01 per share, equating to an annualized payout of $0.04 and a 1.5% yield; institutional investors and hedge funds own approximately 48.68% of the stock.

Diana Shipping inc. (NYSE:DSX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.41 and traded as high as $2.69. Diana Shipping shares last traded at $2.6450, with a volume of 485,229 shares.

Analyst Ratings Changes

DSX has been the subject of several recent research reports. Wall Street Zen upgraded Diana Shipping from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Diana Shipping in a research report on Monday, July 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Diana Shipping Stock Performance

The stock's 50-day simple moving average is $2.26 and its 200-day simple moving average is $2.41. The stock has a market cap of $329.06 million, a price-to-earnings ratio of 5.51 and a beta of 0.51. 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 (NYSE:DSX - Get Free Report) last announced its earnings results on Friday, July 31st. The shipping company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. Diana Shipping had a net margin of 27.88% and a return on equity of 7.55%. The company had revenue of $57.29 million for the quarter, compared to analysts' expectations of $54.60 million.

Diana Shipping Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid 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 is Friday, August 21st. Diana Shipping's dividend payout ratio (DPR) is 8.33%.

Hedge Funds Weigh In On Diana Shipping

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new stake in shares of Diana Shipping during the 1st quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in shares of Diana Shipping by 71.2% in the first quarter. EverSource Wealth Advisors LLC now owns 10,942 shares of the shipping company's stock worth $27,000 after purchasing an additional 4,550 shares during the period. Blue Trust Inc. raised its stake in Diana Shipping by 159.0% in the first quarter. Blue Trust Inc. now owns 12,839 shares of the shipping company's stock valued at $32,000 after purchasing an additional 7,881 shares in the last quarter. BlackRock Inc. acquired a new position in Diana Shipping in the second quarter valued at about $47,000. Finally, Mercuria Capital Strategies LLC acquired a new position in Diana Shipping in the fourth quarter valued at about $88,000. 48.68% of the stock is owned by institutional investors and hedge funds.

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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