Wall Street brokerages forecast that Diana Shipping Inc. (NYSE:DSX) will report ($0.12) earnings per share for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Diana Shipping’s earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.17). Diana Shipping posted earnings of ($0.34) per share in the same quarter last year, which would suggest a positive year over year growth rate of 64.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 22nd.
On average, analysts expect that Diana Shipping will report full year earnings of ($0.19) per share for the current financial year, with EPS estimates ranging from ($0.36) to $0.18. For the next financial year, analysts forecast that the firm will report earnings of $0.30 per share, with EPS estimates ranging from ($0.08) to $0.64. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Diana Shipping.
Diana Shipping (NYSE:DSX) last issued its earnings results on Thursday, February 22nd. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. Diana Shipping had a negative return on equity of 8.81% and a negative net margin of 316.08%. The firm had revenue of $48.90 million for the quarter, compared to analysts’ expectations of $44.22 million. During the same quarter last year, the business earned ($0.31) earnings per share. The company’s revenue was up 74.6% compared to the same quarter last year.
A number of equities analysts have issued reports on the company. Pareto Securities cut Diana Shipping from a “buy” rating to a “hold” rating and set a $5.00 target price on the stock. in a report on Wednesday, January 10th. JPMorgan Chase cut Diana Shipping from an “overweight” rating to a “neutral” rating and set a $5.00 target price on the stock. in a report on Wednesday, January 17th. Zacks Investment Research cut Diana Shipping from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Seaport Global Securities restated a “neutral” rating on shares of Diana Shipping in a report on Friday, February 23rd. Finally, Morgan Stanley reduced their target price on Diana Shipping from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Diana Shipping presently has a consensus rating of “Hold” and an average price target of $4.50.
DSX traded up $0.02 during midday trading on Friday, reaching $3.56. 308,400 shares of the company were exchanged, compared to its average volume of 537,041. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. Diana Shipping has a one year low of $3.07 and a one year high of $4.92. The stock has a market cap of $379.95, a P/E ratio of -4.51 and a beta of 1.17.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its position in shares of Diana Shipping by 128.8% during the fourth quarter. Two Sigma Advisers LP now owns 55,062 shares of the shipping company’s stock worth $224,000 after purchasing an additional 31,000 shares during the period. State Street Corp raised its position in shares of Diana Shipping by 15.4% during the second quarter. State Street Corp now owns 80,149 shares of the shipping company’s stock worth $324,000 after purchasing an additional 10,694 shares during the period. Wells Fargo & Company MN raised its position in shares of Diana Shipping by 36.8% during the fourth quarter. Wells Fargo & Company MN now owns 117,745 shares of the shipping company’s stock worth $480,000 after purchasing an additional 31,686 shares during the period. Virtu Financial LLC raised its position in shares of Diana Shipping by 804.7% during the fourth quarter. Virtu Financial LLC now owns 120,230 shares of the shipping company’s stock worth $489,000 after purchasing an additional 106,940 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of Diana Shipping by 385.4% during the fourth quarter. Two Sigma Investments LP now owns 190,399 shares of the shipping company’s stock worth $775,000 after purchasing an additional 151,172 shares during the period. 39.72% of the stock is currently owned by institutional investors.
About Diana Shipping
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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