Zacks Investment Research Lowers Diana Shipping (NYSE:DSX) to Hold

Zacks Investment Research downgraded shares of Diana Shipping (NYSE:DSX) from a buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

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. “

Other research analysts have also recently issued research reports about the company. Clarkson Capital increased their price target on Diana Shipping from $3.00 to $5.00 and gave the stock a buy rating in a research note on Tuesday, February 23rd. BTIG Research reaffirmed a buy rating and set a $6.00 target price on shares of Diana Shipping in a research note on Tuesday. Jefferies Financial Group raised their target price on Diana Shipping from $4.00 to $5.00 and gave the company a hold rating in a research note on Friday, May 21st. Finally, Pareto Securities raised Diana Shipping from a sell rating to a hold rating and set a $3.50 target price for the company in a research note on Tuesday, March 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Diana Shipping presently has an average rating of Buy and a consensus price target of $4.71.

NYSE:DSX opened at $5.17 on Tuesday. Diana Shipping has a 1 year low of $1.30 and a 1 year high of $5.30. The company has a market capitalization of $473.24 million, a PE ratio of -11.75 and a beta of 1.31. The stock has a fifty day simple moving average of $3.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.62 and a current ratio of 1.70.

Diana Shipping (NYSE:DSX) last released its quarterly earnings results on Thursday, May 20th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Diana Shipping had a negative return on equity of 4.96% and a negative net margin of 19.56%. Equities analysts expect that Diana Shipping will post 0.34 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in DSX. Jane Street Group LLC acquired a new position in Diana Shipping in the 1st quarter worth about $37,000. Quadrature Capital Ltd acquired a new position in Diana Shipping in the 1st quarter worth about $42,000. JPMorgan Chase & Co. increased its position in Diana Shipping by 111.0% in the 1st quarter. JPMorgan Chase & Co. now owns 15,305 shares of the shipping company’s stock worth $46,000 after purchasing an additional 8,050 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Diana Shipping in the 4th quarter worth about $58,000. Finally, DAVENPORT & Co LLC acquired a new position in Diana Shipping in the 1st quarter worth about $60,000. 22.09% of the stock is owned by hedge funds and other institutional investors.

About Diana Shipping

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 March 11, 2021, it operated a fleet of 37 dry bulk vessels, including 4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax, and 11 Panamax), as well as one Panamax dry bulk vessel.

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