Zacks Investment Research upgraded shares of Diana Shipping inc. (NYSE:DSX) from a hold rating to a buy rating in a report issued on Tuesday. The brokerage currently has $4.25 target price on the shipping company’s stock.
According to Zacks, “Diana Shipping Inc. is a global provider of shipping transportation services. They specialize in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. “
DSX has been the topic of several other reports. J P Morgan Chase & Co upgraded Diana Shipping inc. from a neutral rating to an overweight rating and set a $8.00 target price on the stock in a report on Friday, April 7th. Stifel Nicolaus reiterated a hold rating and issued a $5.25 price objective on shares of Diana Shipping inc. in a research note on Friday, May 26th. BidaskClub lowered Diana Shipping inc. from a buy rating to a hold rating in a research note on Saturday, July 8th. ValuEngine upgraded Diana Shipping inc. from a sell rating to a hold rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC dropped their price objective on Diana Shipping inc. from $5.00 to $4.50 and set a hold rating on the stock in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Diana Shipping inc. presently has a consensus rating of Hold and an average price target of $3.94.
Shares of Diana Shipping inc. (NYSE:DSX) traded up 3.94% on Tuesday, reaching $4.22. The company had a trading volume of 714,738 shares. The company has a 50-day moving average price of $3.79 and a 200-day moving average price of $4.00. Diana Shipping inc. has a 52-week low of $2.21 and a 52-week high of $6.20. The firm’s market capitalization is $342.89 million.
Diana Shipping inc. (NYSE:DSX) last posted its earnings results on Tuesday, May 23rd. The shipping company reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. Diana Shipping inc. had a negative return on equity of 15.25% and a negative net margin of 138.84%. The company had revenue of $31.30 million for the quarter, compared to analyst estimates of $28.69 million. During the same period last year, the company earned ($0.41) earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Diana Shipping inc. will post ($0.99) EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in DSX. DnB Asset Management AS purchased a new stake in Diana Shipping inc. during the second quarter worth $741,000. Ironwood Investment Management LLC increased its stake in Diana Shipping inc. by 1.4% in the first quarter. Ironwood Investment Management LLC now owns 30,192 shares of the shipping company’s stock worth $139,000 after buying an additional 426 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Diana Shipping inc. during the first quarter worth $205,000. Morgan Stanley increased its stake in Diana Shipping inc. by 99.7% in the first quarter. Morgan Stanley now owns 317,079 shares of the shipping company’s stock worth $1,464,000 after buying an additional 158,283 shares during the period. Finally, Hosking Partners LLP increased its stake in Diana Shipping inc. by 57.1% in the first quarter. Hosking Partners LLP now owns 2,253,848 shares of the shipping company’s stock worth $10,413,000 after buying an additional 819,219 shares during the period. 33.97% of the stock is currently owned by institutional investors and hedge funds.
Diana Shipping inc. Company Profile
Diana Shipping Inc is a holding company. The Company is a provider of shipping transportation services. The Company specializes in the ownership of dry bulk vessels. As of February 16, 2017, the Company’s operating fleet consisted of 48 dry bulk carriers, of which 23 were Panamax, four were Kamsarmax, three were Post-Panamax, 14 were Capesize and four were Newcastlemax vessels, having a combined carrying capacity of approximately 5.7 million deadweight tonnage (dwt).
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