Diana Shipping (NYSE:DSX) Stock Crosses Above 200 Day Moving Average of $2.88

Diana Shipping Inc. (NYSE:DSX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.88 and traded as high as $2.91. Diana Shipping shares last traded at $2.87, with a volume of 390,905 shares.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Diana Shipping in a research report on Tuesday, February 6th. They set a “hold” rating on the stock.

Diana Shipping Stock Performance

The company has a current ratio of 2.14, a quick ratio of 2.08 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $324.50 million, a PE ratio of 6.67 and a beta of 1.20. The firm’s 50-day simple moving average is $2.93 and its two-hundred day simple moving average is $2.88.

Diana Shipping (NYSE:DSX) last posted its quarterly earnings data on Friday, February 23rd. The shipping company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. Diana Shipping had a net margin of 19.02% and a return on equity of 10.34%. The firm had revenue of $56.69 million for the quarter, compared to analysts’ expectations of $61.02 million. On average, equities research analysts expect that Diana Shipping Inc. will post 0.29 earnings per share for the current fiscal year.

Diana Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 10.45%. The ex-dividend date was Monday, March 4th. Diana Shipping’s dividend payout ratio is currently 69.77%.

Hedge Funds Weigh In On Diana Shipping

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Pictet & Cie SA grew its holdings in shares of Diana Shipping by 8.3% during the 3rd quarter. Banque Pictet & Cie SA now owns 119,149 shares of the shipping company’s stock valued at $413,000 after acquiring an additional 9,149 shares in the last quarter. Colonial River Wealth Management LLC purchased a new position in shares of Diana Shipping during the 4th quarter valued at $53,000. Jump Financial LLC purchased a new position in shares of Diana Shipping during the 4th quarter valued at $31,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Diana Shipping during the 4th quarter valued at $48,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Diana Shipping by 2.0% during the 4th quarter. Russell Investments Group Ltd. now owns 256,269 shares of the shipping company’s stock valued at $761,000 after acquiring an additional 4,962 shares in the last quarter. 48.68% of the stock is currently 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 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.