Diana Shipping (NYSE:DSX) Shares Break Above 200 Day Moving Average - Here's What Happened

Key Points

• Diana Shipping shares broke above their 200-day moving average, reaching $2.92 before closing at $2.885, compared with the average of $2.49.
• The company beat quarterly expectations, reporting EPS of $0.16 versus the $0.02 consensus and revenue of $57.29 million versus estimates of $54.60 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating, while Diana Shipping maintains a quarterly dividend of $0.01 per share, equivalent to a 1.4% annualized yield.

Shares of Diana Shipping inc. (NYSE:DSX - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $2.49 and traded as high as $2.92. Diana Shipping shares last traded at $2.8850, with a volume of 643,187 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have commented on DSX shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Diana Shipping in a research note on Monday, July 20th. Wall Street Zen upgraded Diana Shipping from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Diana Shipping Stock Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 2.05 and a quick ratio of 2.01. The firm has a market capitalization of $358.92 million, a P/E ratio of 6.01 and a beta of 0.51. The stock's 50 day moving average is $2.64 and its two-hundred day moving average is $2.49.

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

Diana Shipping Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were issued a dividend of $0.01 per share. The ex-dividend date was Friday, August 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.4%. Diana Shipping's dividend payout ratio (DPR) is presently 8.33%.

Hedge Funds Weigh In On Diana Shipping

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Diana Shipping by 71.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,942 shares of the shipping company's stock worth $27,000 after buying an additional 4,550 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Diana Shipping by 159.0% during the 1st quarter. Blue Trust Inc. now owns 12,839 shares of the shipping company's stock worth $32,000 after acquiring an additional 7,881 shares during the last quarter. Cetera Investment Advisers purchased a new position in Diana Shipping in the first quarter worth $26,000. BlackRock Inc. purchased a new position in Diana Shipping in the second quarter worth $47,000. Finally, Lazard Asset Management LLC bought a new position in Diana Shipping in the first quarter valued at $98,000. 48.68% of the stock is currently owned by institutional investors and hedge funds.

About Diana Shipping

Diana Shipping Inc NYSE: DSX is a global shipping company that owns and operates dry bulk vessels. Its fleet transports major commodities, including iron ore, grain, and coal, as well as other dry bulk cargoes used in international trade.

The company's vessels primarily operate under time charter and voyage charter arrangements with customers around the world. Diana Shipping serves a broad range of international trade routes, connecting commodity producers, exporters, and importers across the major shipping regions.

Founded in 1999, Diana Shipping is headquartered in Athens, Greece, and has been listed on the New York Stock Exchange since 2005.

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