Diana Shipping Inc. (NYSE:DSX) Expected to Post Quarterly Sales of $63.87 Million

Brokerages expect Diana Shipping Inc. (NYSE:DSXGet Rating) to post $63.87 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 $61.24 million. Diana Shipping reported sales of $39.27 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 62.6%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Diana Shipping will report full year sales of $288.87 million for the current year, with estimates ranging from $284.64 million to $295.10 million. For the next year, analysts expect that the firm will report sales of $259.60 million, with estimates ranging from $224.50 million to $294.70 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Diana Shipping.

Diana Shipping (NYSE:DSXGet Rating) last released 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. Diana Shipping had a net margin of 26.79% and a return on equity of 10.32%. The firm had revenue of $68.02 million for the quarter, compared to analyst estimates of $65.81 million. During the same period last year, the firm earned ($0.08) earnings per share.

A number of research firms have weighed in on DSX. Jefferies Financial Group raised their price objective on shares of Diana Shipping from $4.50 to $5.00 and gave the company a “hold” rating in a research note on Friday, February 25th. Zacks Investment Research raised shares of Diana Shipping from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 1st. TheStreet raised shares of Diana Shipping from a “d+” rating to a “c-” rating in a research report on Tuesday, March 1st. Finally, StockNews.com initiated coverage on shares of Diana Shipping in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.63.

Shares of Diana Shipping stock traded down $0.02 during trading hours on Friday, reaching $5.28. The company’s stock had a trading volume of 7,114 shares, compared to its average volume of 830,420. Diana Shipping has a one year low of $3.02 and a one year high of $6.36. The company has a market capitalization of $483.30 million, a P/E ratio of 8.41 and a beta of 0.99. The stock’s fifty day simple moving average is $4.79 and its two-hundred day simple moving average is $4.52.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 21st. Investors of record on Wednesday, March 9th were issued 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 15.15%. Diana Shipping’s dividend payout ratio (DPR) is presently 126.99%.

Several institutional investors and hedge funds have recently bought and sold shares of DSX. Royal Bank of Canada purchased a new position in shares of Diana Shipping in the second quarter worth about $55,000. Morgan Stanley increased its stake in shares of Diana Shipping by 20.7% in the second quarter. Morgan Stanley now owns 728,341 shares of the shipping company’s stock worth $3,795,000 after purchasing an additional 125,041 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Diana Shipping in the third quarter worth about $174,000. Navellier & Associates Inc. purchased a new position in shares of Diana Shipping in the third quarter worth about $390,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of Diana Shipping by 66.2% in the third quarter. Advisor Group Holdings Inc. now owns 14,102 shares of the shipping company’s stock worth $81,000 after purchasing an additional 5,615 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Diana Shipping Company Profile (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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