Diana Shipping (NYSE:DSX) Share Price Passes Above 200 Day Moving Average of $2.88

Diana Shipping Inc. (NYSE:DSX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.88 and traded as high as $2.91. Diana Shipping shares last traded at $2.87, with a volume of 390,905 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Diana Shipping in a research note on Tuesday, February 6th. They set a “hold” rating for the company.

Diana Shipping Stock Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.08 and a current ratio of 2.14. The firm’s 50 day simple moving average is $2.93 and its 200 day simple moving average is $2.88. The firm has a market capitalization of $327.34 million, a price-to-earnings ratio of 6.73 and a beta of 1.20.

Diana Shipping (NYSE:DSX) last posted its earnings results on Friday, February 23rd. The shipping company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Diana Shipping had a net margin of 19.02% and a return on equity of 10.34%. The firm had revenue of $56.69 million during the quarter, compared to analysts’ expectations of $61.02 million. Sell-side analysts forecast that Diana Shipping Inc. will post 0.29 earnings per share for the current fiscal year.

Diana Shipping Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 10.36%. The ex-dividend date of this dividend was Monday, March 4th. Diana Shipping’s dividend payout ratio is currently 69.77%.

Hedge Funds Weigh In On Diana Shipping

Several large investors have recently made changes to their positions in DSX. Jump Financial LLC acquired a new position in shares of Diana Shipping in the 4th quarter valued at $31,000. Scott & Selber Inc. purchased a new stake in Diana Shipping in the 3rd quarter worth $35,000. Dynamic Technology Lab Private Ltd purchased a new stake in Diana Shipping in the 4th quarter worth $48,000. Colonial River Wealth Management LLC purchased a new stake in Diana Shipping in the 4th quarter worth $53,000. Finally, Kestra Advisory Services LLC increased its holdings in Diana Shipping by 52.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 31,151 shares of the shipping company’s stock worth $108,000 after acquiring an additional 10,709 shares in the last quarter. 48.68% of the stock is currently owned by institutional investors and hedge funds.

Diana Shipping Company Profile

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 March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.