Diana Shipping inc. (NYSE:DSX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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. “
DSX has been the topic of a number of other reports. Jefferies Group reiterated a “hold” rating on shares of Diana Shipping inc. in a report on Tuesday, September 6th. Seaport Global Securities began coverage on shares of Diana Shipping inc. in a report on Tuesday, August 2nd. They issued a “neutral” rating and a $3.00 price target on the stock. Finally, Deutsche Bank AG upgraded shares of Diana Shipping inc. from a “sell” rating to a “hold” rating and lifted their price target for the company from $1.50 to $2.50 in a report on Friday, August 26th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Diana Shipping inc. presently has an average rating of “Hold” and an average price target of $4.00.
Diana Shipping inc. (NYSE:DSX) opened at 2.79 on Tuesday. The company’s market capitalization is $224.69 million. The stock’s 50 day moving average is $2.55 and its 200 day moving average is $2.63. Diana Shipping inc. has a 52 week low of $1.95 and a 52 week high of $7.29.
Diana Shipping inc. (NYSE:DSX) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.01. The company earned $28.30 million during the quarter, compared to the consensus estimate of $28.07 million. Diana Shipping inc. had a negative net margin of 75.27% and a negative return on equity of 8.54%. The business’s revenue was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. On average, equities research analysts expect that Diana Shipping inc. will post ($1.65) earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Gruss & Co. Inc. acquired a new position in shares of Diana Shipping inc. during the second quarter worth approximately $122,000. Ingalls & Snyder LLC purchased a new position in Diana Shipping inc. during the second quarter worth approximately $143,000. California Public Employees Retirement System boosted its position in Diana Shipping inc. by 97.5% in the second quarter. California Public Employees Retirement System now owns 93,200 shares of the company’s stock worth $226,000 after buying an additional 46,000 shares in the last quarter. Macquarie Group Ltd. boosted its position in Diana Shipping inc. by 27.1% in the second quarter. Macquarie Group Ltd. now owns 102,050 shares of the company’s stock worth $248,000 after buying an additional 21,750 shares in the last quarter. Finally, State Street Corp boosted its position in Diana Shipping inc. by 2.2% in the second quarter. State Street Corp now owns 113,366 shares of the company’s stock worth $275,000 after buying an additional 2,490 shares in the last quarter. 45.18% of the stock is owned by institutional investors and hedge funds.
About Diana Shipping inc.
Diana Shipping Inc is a holding company. The Company is engaged in providing shipping transportation services. The Company is also engaged in the ocean transportation of dry bulk cargoes across the world through the ownership of dry bulk carrier vessels. Its fleet consists of over 45 dry bulk vessels, of which 22 are Panamax, four are Kamsarmax, three are Post-Panamax, 14 are Capesize and two are Newcastlemax vessels, having a combined carrying capacity of over 5.2 million dead weight tons.
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