Diana Shipping inc. (NYSE:DSX) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Diana Shipping inc. (NYSE:DSX) from a hold rating to a sell rating in a research report sent to investors on Monday morning.
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. “
A number of other equities research analysts also recently issued reports on DSX. Credit Suisse Group set a $3.00 price target on Diana Shipping inc. and gave the stock a hold rating in a research report on Saturday, April 22nd. Stifel Nicolaus reissued a hold rating and set a $5.25 price target on shares of Diana Shipping inc. in a research report on Wednesday, July 19th. BidaskClub downgraded Diana Shipping inc. from a hold rating to a sell rating in a research report on Sunday. ValuEngine raised Diana Shipping inc. from a sell rating to a hold rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC increased their price target on Diana Shipping inc. from $3.50 to $5.00 and gave the stock a hold rating in a research report on Monday, April 24th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Diana Shipping inc. presently has an average rating of Hold and an average target price of $4.07.
Shares of Diana Shipping inc. (NYSE DSX) traded down 2.51% on Monday, reaching $3.89. The company had a trading volume of 398,885 shares. The firm’s market cap is $412.85 million. The company has a 50-day moving average price of $3.91 and a 200-day moving average price of $4.11. Diana Shipping inc. has a one year low of $2.21 and a one year high of $6.20.
Diana Shipping inc. (NYSE:DSX) last issued its quarterly earnings results on Wednesday, July 26th. The shipping company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.01. The company had revenue of $37.75 million for the quarter, compared to analyst estimates of $36.21 million. Diana Shipping inc. had a negative return on equity of 14.80% and a negative net margin of 122.29%. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.41) EPS. On average, analysts expect that Diana Shipping inc. will post ($0.96) earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in DSX. Renaissance Technologies LLC boosted its stake in Diana Shipping inc. by 9.3% in the fourth quarter. Renaissance Technologies LLC now owns 932,500 shares of the shipping company’s stock valued at $2,816,000 after buying an additional 79,500 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Diana Shipping inc. by 41.1% in the fourth quarter. Macquarie Group Ltd. now owns 174,750 shares of the shipping company’s stock valued at $528,000 after buying an additional 50,900 shares during the last quarter. Horseman Capital Management Ltd acquired a new stake in Diana Shipping inc. during the first quarter valued at $469,000. Parametric Portfolio Associates LLC boosted its stake in 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, Phoenix Investment Adviser LLC boosted its stake in 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. Hedge funds and other institutional investors own 34.54% of the company’s stock.
About Diana Shipping inc.
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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