Himalaya Shipping (NYSE:HSHP) Announces Quarterly Earnings Results, Hits Estimates

Himalaya Shipping (NYSE:HSHP) announced its quarterly earnings results on Tuesday. The company reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71, FiscalAI reports. The company had revenue of $62.60 million for the quarter, compared to the consensus estimate of $61.51 million. Himalaya Shipping had a net margin of 31.44% and a return on equity of 32.83%.

Himalaya Shipping Trading Up 1.6%

Shares of NYSE:HSHP traded up $0.25 during trading on Tuesday, reaching $15.91. The company’s stock had a trading volume of 290,914 shares, compared to its average volume of 368,661. The stock has a market capitalization of $742.39 million, a PE ratio of 14.08 and a beta of 1.39. Himalaya Shipping has a 12 month low of $7.87 and a 12 month high of $19.55. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. The firm’s 50 day simple moving average is $17.29 and its two-hundred day simple moving average is $14.89.

Himalaya Shipping Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, October 27th. Investors of record on Monday, October 19th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, October 16th. This is a positive change from Himalaya Shipping’s previous dividend of $0.25.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HSHP shares. Clarkson Capital upgraded Himalaya Shipping from a “neutral” rating to a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings upgraded Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

About Himalaya Shipping

Himalaya Shipping Ltd. is a dry bulk shipping company incorporated in Bermuda. It owns and operates Newcastlemax vessels, large bulk carriers designed to transport commodities such as iron ore, coal and grain. The company’s fleet is equipped with dual-fuel engines that can run on liquefied natural gas as well as conventional marine fuel. Its vessels serve international bulk shipping routes, carrying cargo between major commodity-producing and consuming regions. Himalaya Shipping began building its fleet in the early 2020s and became a publicly traded company in 2023.