Diana Shipping (DSX) closed at $3.68 in the latest trading session, marking a +1.1% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.74%.
Coming into today, shares of the shipping company had lost 12.71% in the past month. In that same time, the Transportation sector lost 1.59%, while the S&P 500 gained 0.85%.
Wall Street will be looking for positivity from Diana Shipping as it approaches its next earnings report date. On that day, Diana Shipping is projected to report earnings of $0.19 per share, which would represent a year-over-year decline of 38.71%. Meanwhile, our latest consensus estimate is calling for revenue of $70.6 million, up 9.93% from the prior-year quarter.
DSX's full-year Zacks Consensus Estimates are calling for earnings of $0.74 per share and revenue of $283.6 million. These results would represent year-over-year changes of -45.59% and +0.95%, respectively.
Any recent changes to analyst estimates for Diana Shipping should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.84% lower. Diana Shipping currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Diana Shipping is currently trading at a Forward P/E ratio of 4.92. This valuation marks a discount compared to its industry's average Forward P/E of 5.88.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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