Diana Shipping (NYSE:DSX) Releases Earnings Results, Beats Expectations By $0.03 EPS

Diana Shipping (NYSE:DSX – Get Rating) announced its quarterly earnings data on Tuesday. The shipping company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03, Fidelity Earnings reports. Diana Shipping had a net margin of 26.79% and a return on equity of 10.32%. During the same period last year, the company earned ($0.03) earnings per share.

Shares of DSX opened at $6.36 on Wednesday. The stock has a market capitalization of $582.16 million, a PE ratio of 10.10 and a beta of 1.03. Diana Shipping has a 1 year low of $3.31 and a 1 year high of $6.49. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.84 and a current ratio of 1.93. The company’s 50-day simple moving average is $5.11 and its 200-day simple moving average is $4.51.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Monday, June 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 15.72%. The ex-dividend date is Friday, June 3rd. This is a boost from Diana Shipping’s previous quarterly dividend of $0.20. Diana Shipping’s dividend payout ratio is currently 126.99%.

Several institutional investors and hedge funds have recently modified their holdings of DSX. Cetera Investment Advisers acquired a new stake in Diana Shipping in the fourth quarter valued at approximately $42,000. BNP Paribas Arbitrage SA acquired a new stake in Diana Shipping in the fourth quarter valued at approximately $50,000. LPL Financial LLC raised its holdings in Diana Shipping by 30.6% in the fourth quarter. LPL Financial LLC now owns 13,262 shares of the shipping company’s stock valued at $52,000 after acquiring an additional 3,111 shares in the last quarter. Royal Bank of Canada acquired a new stake in Diana Shipping in the second quarter valued at approximately $55,000. Finally, Raymond James Trust N.A. acquired a new stake in Diana Shipping in the first quarter valued at approximately $59,000. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on DSX. Zacks Investment Research raised shares of Diana Shipping from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 1st. StockNews.com lowered shares of Diana Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Jefferies Financial Group began coverage on shares of Diana Shipping in a research note on Wednesday, April 27th. They set a “hold” rating for the company. Finally, TheStreet raised shares of Diana Shipping from a “d+” rating to a “c-” rating in a research note on Tuesday, March 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Diana Shipping has an average rating of “Hold” and a consensus price target of $6.63.

Diana Shipping Company Profile (Get Rating)

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 April 13, 2022, it operated a fleet of 35 dry bulk vessels, including 4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 6 Kamsarmax, and 8 Panamax.

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