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Diana Shipping inc. (DSX) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Diana Shipping inc. (NYSE:DSX) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. The brokerage currently has $4.50 price objective on the shipping company’s stock.

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. “

Several other research firms have also commented on DSX. BidaskClub lowered shares of Diana Shipping inc. from a buy rating to a hold rating in a report on Monday, July 24th. Stifel Nicolaus reiterated a hold rating and issued a $5.25 price objective on shares of Diana Shipping inc. in a research report on Wednesday, July 19th. ValuEngine downgraded shares of Diana Shipping inc. from a hold rating to a sell rating in a research report on Friday, September 1st. Jefferies Group LLC reiterated a hold rating and issued a $4.50 price objective on shares of Diana Shipping inc. in a research report on Thursday, September 7th. Finally, J P Morgan Chase & Co upgraded shares of Diana Shipping inc. from a neutral rating to an overweight rating in a research report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $4.33.

The company’s market cap is $393.53 million. Diana Shipping inc. has a 12-month low of $2.36 and a 12-month high of $6.20. The firm has a 50-day moving average price of $3.97 and a 200-day moving average price of $4.06.

Diana Shipping inc. (NYSE:DSX) last posted its quarterly earnings results on Wednesday, July 26th. The shipping company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.01). Diana Shipping inc. had a negative net margin of 122.29% and a negative return on equity of 14.80%. The business had revenue of $37.75 million during the quarter, compared to analyst estimates of $36.21 million. During the same period last year, the firm posted ($0.41) earnings per share. The company’s quarterly revenue was up 33.3% on a year-over-year basis. On average, equities analysts predict that Diana Shipping inc. will post ($0.96) EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. Ironwood Investment Management LLC grew its stake in shares of Diana Shipping inc. by 1.4% in the 1st quarter. Ironwood Investment Management LLC now owns 30,192 shares of the shipping company’s stock worth $139,000 after purchasing an additional 426 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Diana Shipping inc. in the 2nd quarter worth approximately $180,000. Edmond DE Rothschild Holding S.A. grew its stake in shares of Diana Shipping inc. by 10.2% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 48,800 shares of the shipping company’s stock worth $198,000 after purchasing an additional 4,500 shares during the last quarter. State Street Corp grew its stake in shares of Diana Shipping inc. by 15.4% in the 2nd quarter. State Street Corp now owns 80,149 shares of the shipping company’s stock worth $324,000 after purchasing an additional 10,694 shares during the last quarter. Finally, DnB Asset Management AS acquired a new position in shares of Diana Shipping inc. in the 2nd quarter worth approximately $741,000. Institutional investors own 37.31% of the company’s stock.
Source: Zacks

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