In the latest trading session, Diana Shipping (DSX) closed at $3.67, marking a -1.08% move from the previous day. This change lagged the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 2.7%.
Prior to today's trading, shares of the shipping company had lost 7.94% over the past month. This has lagged the Transportation sector's loss of 2.57% and the S&P 500's gain of 1.07% in that time.
Wall Street will be looking for positivity from Diana Shipping as it approaches its next earnings report date. This is expected to be May 26, 2023. The company is expected to report EPS of $0.19, down 38.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $70.6 million, up 9.93% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.74 per share and revenue of $283.6 million, which would represent changes of -45.59% and +0.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Diana Shipping. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 10.84% lower within the past month. Diana Shipping is currently a Zacks Rank #3 (Hold).
In terms of valuation, Diana Shipping is currently trading at a Forward P/E ratio of 5.01. This valuation marks a discount compared to its industry's average Forward P/E of 5.61.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 124, which puts it in the top 50% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report