Drewry Financial analyst Victoria Saraglis maintained a Buy rating on Diana Shipping (NYSE: DSX) yesterday and set a price target of $6.10. The company’s shares closed yesterday at $4.35.
Saraglis noted:
“We have retained our fair value of USD 6.10 per share and Attractive stock rating given the return to profitability and the expectation of a continued improvement in performance on the back of improved rates. Furthermore, we have revised the risk rating to Containerships’ repayment of loan and after factoring in the low net debt to market adjusted fleet value ratio. China’s inclination to import scrap for crude steel production and a global macro slowdown are the two biggest risk factors in our view.”
According to TipRanks.com, Saraglis is a 1-star analyst with an average return of -0.3% and a 50.0% success rate. Saraglis covers the Services sector, focusing on stocks such as Golden Ocean Group Limited, Star Bulk Carriers, and Scorpio Bulkers.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Diana Shipping with a $5.55 average price target.
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Based on Diana Shipping’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.96 million. In comparison, last year the company had a GAAP net loss of $23.82 million.
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Diana Shipping, Inc. operates as a holding company, which engages in the provision of shipping transportation services through the ownership and operation of dry bulk vessels. Its vessels are being employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain, and other materials along worldwide shipping routes. The company was founded on March 8, 1999 and is headquartered in Athens, Greece.
