Diana Shipping (NYSE:DSX) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Diana Shipping's stock price has risen above its 200-day moving average, reaching a high of $1.69 before closing at $1.66.
• Brokerages have adjusted their ratings on Diana Shipping, with Wall Street Zen downgrading it from "hold" to "sell," leading to an overall average rating of "Sell."
• The company reported a quarterly profit, with earnings per share of $0.03 and a revenue of $54.69 million, exceeding analyst expectations.

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 $1.58 and traded as high as $1.69. Diana Shipping shares last traded at $1.66, with a volume of 236,284 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on DSX. Wall Street Zen cut Diana Shipping from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Diana Shipping in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Diana Shipping currently has an average rating of "Sell".

Diana Shipping Trading Up 0.3%

The firm has a fifty day simple moving average of $1.71 and a 200-day simple moving average of $1.58. The firm has a market cap of $191.60 million, a P/E ratio of 27.59 and a beta of 0.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.29 and a quick ratio of 2.24.

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

Diana Shipping Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 21st. Diana Shipping's dividend payout ratio (DPR) is 66.67%.

Hedge Funds Weigh In On Diana Shipping

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Diana Shipping in the 1st quarter valued at about $26,000. Virtu Financial LLC bought a new position in shares of Diana Shipping in the first quarter valued at approximately $33,000. State of Wyoming bought a new position in shares of Diana Shipping in the first quarter valued at approximately $44,000. Verdence Capital Advisors LLC bought a new position in shares of Diana Shipping in the first quarter valued at approximately $48,000. Finally, CHICAGO TRUST Co NA bought a new position in Diana Shipping during the 3rd quarter valued at $72,000. Institutional investors own 48.68% of the company's stock.

About Diana Shipping

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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