Diana Shipping Inc Up 5.73% To $3.79 After Earnings

Friday, May 26, 2023 - Diana Shipping Inc (DSX) reported upside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Diana Shipping Inc were at $0.14. The company beat those estimates with an EPS of $0.22. The earnings per share of $0.22 (which represents a -57% EPS surprise) led to the company's profits falling 29% compared to last year when the firm reported an EPS of $0.31. The decline in Diana Shipping Inc's annual growth rate represents how the business isn't performing well amid current economic conditions.

Revenues were upbeat at $72.6 million. That is an increase of 10.17% in revenues from the year-ago report and is 7.61% higher than consensus estimates set at $67.5 million.

The stock is up 5.73% to $3.79 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 13. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Diana Shipping Inc provides shipping transportation services. The company, through its subsidiaries, operates a fleet of vessels consisting of dry bulk carriers such as Panamax, Kamsarmax, Post-Panamax, Capesize and Newcastlemax vessels. Using this fleet, the firm provides transportation services for various goods including coal, iron ore, and grains. It also transports minor bulks, including steel products, cement, and fertilizers through its dry bulk carrier vessels.