Diana Shipping inc. (DSX) Upgraded to Buy at Zacks Investment Research

Diana Shipping inc. (NYSE:DSX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, July 11th. The firm currently has a $4.25 price target on the shipping company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 6.25% from the company’s previous close.

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. “

Several other research analysts have also recently commented on the stock. BidaskClub cut shares of Diana Shipping inc. from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. JPMorgan Chase & Co. upgraded shares of Diana Shipping inc. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 4th. ValuEngine upgraded shares of Diana Shipping inc. from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $5.25 target price on shares of Diana Shipping inc. in a report on Friday, May 26th. Finally, Jefferies Group LLC decreased their target price on shares of Diana Shipping inc. from $5.00 to $4.50 and set a “hold” rating for the company in a report on Thursday, May 25th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $4.07.

Shares of Diana Shipping inc. (NYSE DSX) opened at 4.00 on Tuesday. Diana Shipping inc. has a 12-month low of $2.21 and a 12-month high of $6.20. The firm has a 50-day moving average of $3.98 and a 200-day moving average of $4.11. The firm’s market cap is $386.76 million.

Diana Shipping inc. (NYSE:DSX) last announced its earnings results on Wednesday, July 26th. The shipping company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.01. Diana Shipping inc. had a negative return on equity of 14.80% and a negative net margin of 122.29%. The firm had revenue of $37.75 million during the quarter, compared to analyst estimates of $36.21 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. On average, equities analysts forecast that Diana Shipping inc. will post ($0.96) earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the stock. Ironwood Investment Management LLC raised its position in shares of 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 valued at $139,000 after buying an additional 426 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of Diana Shipping inc. by 10.2% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 48,800 shares of the shipping company’s stock valued at $198,000 after buying an additional 4,500 shares during the last quarter. Phoenix Investment Adviser LLC raised its position in shares of Diana Shipping inc. by 11.2% in the first quarter. Phoenix Investment Adviser LLC now owns 199,201 shares of the shipping company’s stock valued at $920,000 after buying an additional 20,000 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Diana Shipping inc. by 1.9% in the first quarter. Parametric Portfolio Associates LLC now owns 1,709,979 shares of the shipping company’s stock valued at $7,900,000 after buying an additional 32,397 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new position in shares of Diana Shipping inc. during the second quarter valued at $180,000. 34.55% of the stock is currently owned by hedge funds and other institutional investors.

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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