Zacks: Brokerages Anticipate Diana Shipping Inc. (NYSE:DSX) Will Post Quarterly Sales of $64.14 Million

Wall Street brokerages expect that Diana Shipping Inc. (NYSE:DSX – Get Rating) will post $64.14 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Diana Shipping’s earnings. The highest sales estimate is $66.50 million and the lowest is $61.77 million. Diana Shipping posted sales of $39.27 million during the same quarter last year, which would suggest a positive year over year growth rate of 63.3%. The firm is expected to issue its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Diana Shipping will report full year sales of $288.44 million for the current year, with estimates ranging from $284.64 million to $295.10 million. For the next fiscal year, analysts forecast that the business will post sales of $266.40 million, with estimates ranging from $238.10 million to $294.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Diana Shipping.

Diana Shipping (NYSE:DSX – Get Rating) last posted its quarterly earnings data on Friday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $68.02 million for the quarter, compared to analysts’ expectations of $65.81 million. Diana Shipping had a return on equity of 10.32% and a net margin of 26.79%. During the same period in the previous year, the firm earned ($0.08) EPS.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Diana Shipping from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 1st. TheStreet raised shares of Diana Shipping from a “d+” rating to a “c-” rating in a research note on Tuesday, March 1st. StockNews.com lowered shares of Diana Shipping from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Jefferies Financial Group initiated coverage on shares of Diana Shipping in a research note on Wednesday, April 27th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.63.

Shares of NYSE:DSX traded down $0.27 during midday trading on Friday, hitting $4.88. The company had a trading volume of 826,526 shares, compared to its average volume of 833,644. Diana Shipping has a twelve month low of $3.31 and a twelve month high of $6.36. The business’s 50-day simple moving average is $4.99 and its 200-day simple moving average is $4.47. The stock has a market cap of $446.69 million, a price-to-earnings ratio of 7.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.93 and a quick ratio of 1.84.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 21st. Shareholders of record on Wednesday, March 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $0.80 dividend on an annualized basis and a yield of 16.39%. Diana Shipping’s dividend payout ratio is currently 126.99%.

A number of large investors have recently modified their holdings of DSX. Kestra Advisory Services LLC increased its position in Diana Shipping by 13.1% during the first quarter. Kestra Advisory Services LLC now owns 20,456 shares of the shipping company’s stock valued at $110,000 after acquiring an additional 2,373 shares during the last quarter. Counterpoint Mutual Funds LLC raised its holdings in shares of Diana Shipping by 77.2% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 6,764 shares of the shipping company’s stock worth $26,000 after acquiring an additional 2,946 shares during the period. LPL Financial LLC increased its position in shares of Diana Shipping by 30.6% during the 4th quarter. LPL Financial LLC now owns 13,262 shares of the shipping company’s stock worth $52,000 after purchasing an additional 3,111 shares during the last quarter. Navellier & Associates Inc. grew its position in shares of Diana Shipping by 5.1% during the fourth quarter. Navellier & Associates Inc. now owns 71,688 shares of the shipping company’s stock worth $279,000 after buying an additional 3,456 shares in the last quarter. Finally, Barclays PLC lifted its stake in Diana Shipping by 28.2% during the fourth quarter. Barclays PLC now owns 17,821 shares of the shipping company’s stock worth $69,000 after purchasing an additional 3,921 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.

About Diana Shipping (Get Rating)

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 February 16, 2022, it operated a fleet of 34 dry bulk vessels, including 4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, and 8 Panamax.

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