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

Key Points

• Diana Shipping’s shares rose above their 200-day moving average, reaching $2.73 before closing at $2.695, compared with the average of $2.43.
• The company reported strong quarterly results, earning $0.16 per share versus the $0.02 consensus estimate and generating $57.29 million in revenue. Analysts remain cautious overall, with the stock carrying a consensus “Hold” rating despite one upgrade to “Strong Buy.”
• Diana Shipping declared a quarterly dividend of $0.01 per share, equivalent to $0.04 annually and a 1.5% yield; institutional investors and hedge funds own 48.68% of the stock.

Diana Shipping inc. (NYSE:DSX - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.43 and traded as high as $2.73. Diana Shipping shares last traded at $2.6950, with a volume of 723,339 shares trading hands.

Analyst Upgrades and Downgrades

DSX has been the subject of a number of recent analyst reports. 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 research report on Monday, July 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Diana Shipping has a consensus rating of "Hold".

Diana Shipping Stock Performance

The firm's fifty day moving average price is $2.30 and its 200-day moving average price is $2.43. The company has a current ratio of 2.05, a quick ratio of 2.01 and a debt-to-equity ratio of 0.92. The firm has a market cap of $335.28 million, a price-to-earnings ratio of 5.61 and a beta of 0.51.

Diana Shipping (NYSE:DSX - Get Free Report) last announced its quarterly 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 firm had revenue of $57.29 million for the quarter, compared to analyst estimates of $54.60 million.

Diana Shipping Dividend Announcement

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

Institutional Trading of Diana Shipping

A number of large investors have recently made changes to their positions in DSX. Cetera Investment Advisers purchased a new position in Diana Shipping during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $27,000 after acquiring an additional 4,550 shares during the period. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 7,881 shares during the period. BlackRock Inc. purchased a new position in shares of Diana Shipping during the second quarter worth approximately $47,000. Finally, Mercuria Capital Strategies LLC purchased a new position in shares of Diana Shipping during the fourth quarter worth approximately $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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