Diana Shipping (NYSE:DSX) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Diana Shipping shares crossed above their 200-day moving average, reaching $2.88 before last trading at $2.825, compared with a 200-day average of $2.52.
• The company reported quarterly EPS of $0.16, beating estimates by $0.14, while revenue of $57.29 million also exceeded expectations.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating despite one firm upgrading it to “Strong Buy”; Diana also declared a $0.01 quarterly dividend, representing a 1.4% yield.

Shares of Diana Shipping inc. (NYSE:DSX - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.52 and traded as high as $2.88. Diana Shipping shares last traded at $2.8250, with a volume of 465,384 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on DSX. Weiss Ratings reaffirmed 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 report on Saturday, August 1st. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

Diana Shipping Price Performance

The business has a 50 day simple moving average of $2.75 and a two-hundred day simple moving average of $2.52. The firm has a market capitalization of $351.46 million, a P/E ratio of 5.89 and a beta of 0.59. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.01 and a current ratio of 2.05.

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

Diana Shipping Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 21st. Diana Shipping's payout ratio is currently 8.33%.

Institutional Trading of Diana Shipping

Hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers bought a new position in Diana Shipping in the first quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its stake in Diana Shipping by 71.2% during 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 last quarter. Blue Trust Inc. lifted its stake in Diana Shipping by 159.0% during the first quarter. Blue Trust Inc. now owns 12,839 shares of the shipping company's stock worth $32,000 after purchasing an additional 7,881 shares during the last quarter. BlackRock Inc. bought a new stake in Diana Shipping during the second quarter worth about $47,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Diana Shipping in the 1st quarter worth about $98,000. 48.68% of the stock is owned by institutional investors.

About Diana Shipping

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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