Diana Shipping (NYSE:DSX) Stock Price Breaks Above 200-Day Moving Average - Should You Sell?

Key Points

• Diana Shipping shares moved above their 200-day moving average, reaching $2.62 compared with the $2.53 average, before last trading at $2.5560.
• Analyst sentiment remains generally cautious: Weiss Ratings reiterated a “hold” rating, and MarketBeat’s consensus rating is “Hold,” despite Wall Street Zen upgrading the stock to “strong-buy.”
• The company exceeded quarterly expectations with EPS of $0.16 versus the $0.02 consensus and revenue of $57.29 million, while maintaining a $0.01 quarterly dividend yielding about 1.6% annually.

Shares of Diana Shipping inc. (NYSE:DSX - Get Free Report) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $2.53 and traded as high as $2.62. Diana Shipping shares last traded at $2.5560, with a volume of 1,202,523 shares changing hands.

Wall Street Analyst Weigh In

DSX has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Diana Shipping in a report 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. Based on data from MarketBeat, the stock has an average rating of "Hold".

Diana Shipping Trading Down 3.2%

The stock has a market capitalization of $317.99 million, a PE ratio of 5.33 and a beta of 0.59. The firm has a 50-day moving average price of $2.79 and a 200-day moving average price of $2.53. 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 released its earnings results on Friday, July 31st. The shipping company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.14. The company had revenue of $57.29 million for the quarter, compared to analysts' expectations of $54.60 million. Diana Shipping had a return on equity of 7.55% and a net margin of 27.88%.

Diana Shipping Announces Dividend

The business 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. This represents a $0.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 21st. Diana Shipping's dividend payout ratio (DPR) is 8.33%.

Institutional Trading of Diana Shipping

Several hedge funds have recently added to or reduced their stakes in DSX. Renaissance Technologies LLC grew its position in shares of Diana Shipping by 26.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,984,213 shares of the shipping company's stock valued at $7,461,000 after acquiring an additional 622,500 shares during the period. Walleye Capital LLC purchased a new stake in shares of Diana Shipping during the 1st quarter worth approximately $1,509,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Diana Shipping by 586.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 484,951 shares of the shipping company's stock worth $1,212,000 after purchasing an additional 414,280 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Diana Shipping during the 2nd quarter worth approximately $763,000. Finally, Bank of America Corp DE raised its holdings in shares of Diana Shipping by 37,938.7% in the 1st quarter. Bank of America Corp DE now owns 252,577 shares of the shipping company's stock worth $631,000 after purchasing an additional 251,913 shares during the period. Institutional investors own 48.68% of the company's stock.

Diana Shipping Company Profile

Diana Shipping Inc 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 bulk cargoes used in international trade. The company's vessels serve customers and routes across global markets.

Diana Shipping's fleet has historically included Capesize, Kamsarmax, Panamax and Ultramax vessels. The company generally employs its ships through time charter agreements, under which vessels are leased to customers for specified periods, as well as through other commercial arrangements.

Founded in 1999, Diana Shipping is incorporated in the Marshall Islands and operates from Greece, a major international center for shipping.

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