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DSX

Diana ShippingNYSE:DSX Stock Report

Market Cap

US$360.3m

7D

0.2%

1Y

150.0%

Updated

01 Dec, 2021

Data

Company Financials +
DSX fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance3/6
Financial Health1/6
Dividends2/6

DSX Stock Overview

Diana Shipping Inc. provides shipping transportation services.

Diana Shipping Competitors

Golden Ocean Group

NasdaqGS:GOGL

US$1.9b

Costamare

NYSE:CMRE

US$1.5b

Danaos

NYSE:DAC

US$1.4b

Eneti

NYSE:NETI

US$324.1m

Price History & Performance

Summary of all time highs, changes and price drops for Diana Shipping
Historical stock prices
Current Share PriceUS$4.20
52 Week HighUS$6.36
52 Week LowUS$1.62
Beta1.1
1 Month Change-16.17%
3 Month Change-15.49%
1 Year Change150.00%
3 Year Change20.00%
5 Year Change40.94%
Change since IPO-75.72%

Recent News & Updates

Nov 18

Diana Shipping: Irrational Market Reaction Creates Nice Entry Opportunity

Diana Shipping's earnings are smoother than those of its peers due to the defensive nature of its management. The proposed spin-off will enhance the value of the company removing three of its oldest vessels. The company recently signed a time charter at a significant premium to their TCE rate and with a duration of at least one year. DSX's share is currently trading at the 200-day moving average, thus it represents a nice entry opportunity.

Oct 21

Diana Shipping - Discussing Proposed OceanPal Spin-Off

Leading dry bulk carrier announces $0.10 cash dividend and surprise spin-off of three vintage vessels into a new, spot market-focused company named OceanPal. Diana Shipping has granted OceanPal the right of first refusal over six additional dry bulk carriers and any available spot-chartering opportunity. While OceanPal won't have any long-term debt initially, Diana Shipping will be compensated with a yet-to-be-specified amount of 8% Series C Preferred Stock. Diana Shipping will retain control of OceanPal via a new series of preferred supervoting stock and common shares issued to management in the upcoming spin-off. While Diana Shipping remains a rather conservative play on the dry bulk shipping industry, OceanPal will be a bet on elevated spot market rates taking hold for at least the next couple of quarters. Given the company's stated fleet expansion plans, investors need to be wary of potential dilution going forward.

Oct 04
Is There An Opportunity With Diana Shipping Inc.'s (NYSE:DSX) 41% Undervaluation?

Is There An Opportunity With Diana Shipping Inc.'s (NYSE:DSX) 41% Undervaluation?

How far off is Diana Shipping Inc. ( NYSE:DSX ) from its intrinsic value? Using the most recent financial data, we'll...

Shareholder Returns

DSXUS ShippingUS Market
7D0.2%-0.7%-2.8%
1Y150.0%59.4%20.0%

Return vs Industry: DSX exceeded the US Shipping industry which returned 59.4% over the past year.

Return vs Market: DSX exceeded the US Market which returned 20% over the past year.

Price Volatility

Is DSX's price volatile compared to industry and market?
DSX volatility
DSX Average Weekly Movement8.6%
Shipping Industry Average Movement8.2%
Market Average Movement6.0%
10% most volatile stocks in US Market15.0%
10% least volatile stocks in US Market2.3%

Stable Share Price: DSX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: DSX's weekly volatility (9%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1999918Semiramis Paliouhttps://www.dianashippinginc.com

Diana Shipping Inc. provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of March 11, 2021, it operated a fleet of 37 dry bulk vessels, including 4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax, and 11 Panamax), as well as one Panamax dry bulk vessel.

Diana Shipping Fundamentals Summary

How do Diana Shipping's earnings and revenue compare to its market cap?
DSX fundamental statistics
Market CapUS$360.27m
Earnings (TTM)US$3.06m
Revenue (TTM)US$188.02m

117.9x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
DSX income statement (TTM)
RevenueUS$188.02m
Cost of RevenueUS$88.08m
Gross ProfitUS$99.93m
ExpensesUS$96.88m
EarningsUS$3.06m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.036
Gross Margin53.15%
Net Profit Margin1.62%
Debt/Equity Ratio104.5%

How did DSX perform over the long term?

See historical performance and comparison

Dividends

9.5%

Current Dividend Yield

n/a

Payout Ratio

Valuation

Is Diana Shipping undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DSX ($4.2) is trading below our estimate of fair value ($16.95)

Significantly Below Fair Value: DSX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: DSX is poor value based on its PE Ratio (117.9x) compared to the US Shipping industry average (5.5x).

PE vs Market: DSX is poor value based on its PE Ratio (117.9x) compared to the US market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: DSX is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: DSX's PB Ratio (0.9x) is in line with the US Shipping industry average.


Future Growth

How is Diana Shipping forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

74.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DSX's forecast earnings growth (74.9% per year) is above the savings rate (2%).

Earnings vs Market: DSX's earnings (74.9% per year) are forecast to grow faster than the US market (14.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: DSX's revenue (11.5% per year) is forecast to grow faster than the US market (10.1% per year).

High Growth Revenue: DSX's revenue (11.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DSX's Return on Equity is forecast to be low in 3 years time (11.2%).


Past Performance

How has Diana Shipping performed over the past 5 years?

31.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DSX has high quality earnings.

Growing Profit Margin: DSX became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: DSX has become profitable over the past 5 years, growing earnings by 31.2% per year.

Accelerating Growth: DSX has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: DSX has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (517.7%).


Return on Equity

High ROE: DSX's Return on Equity (2.1%) is considered low.


Financial Health

How is Diana Shipping's financial position?


Financial Position Analysis

Short Term Liabilities: DSX's short term assets ($161.0M) exceed its short term liabilities ($62.3M).

Long Term Liabilities: DSX's short term assets ($161.0M) do not cover its long term liabilities ($462.9M).


Debt to Equity History and Analysis

Debt Level: DSX's net debt to equity ratio (69.4%) is considered high.

Reducing Debt: DSX's debt to equity ratio has increased from 56.4% to 104.5% over the past 5 years.

Debt Coverage: DSX's debt is not well covered by operating cash flow (7.6%).

Interest Coverage: DSX's interest payments on its debt are not well covered by EBIT (1.5x coverage).


Balance Sheet


Dividend

What is Diana Shipping current dividend yield, its reliability and sustainability?

9.52%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DSX's dividend (9.52%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: DSX's dividend (9.52%) is in the top 25% of dividend payers in the US market (3.63%)


Stability and Growth of Payments

Stable Dividend: Too early to tell whether DSX's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if DSX's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DSX's dividends in 3 years are not forecast to be well covered by earnings (130.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Semiramis Paliou (46 yo)

0.67

Tenure

Mrs. Semiramis Paliou serves as Chief Executive Officer at Diana Shipping Inc. since March 1, 2021. Mrs. Paliou served as the Deputy Chief Executive Officer at Diana Shipping Inc. since October 25, 2019 un...


Leadership Team

Experienced Management: DSX's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: DSX's board of directors are seasoned and experienced ( 16.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Diana Shipping Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Diana Shipping Inc.
  • Ticker: DSX
  • Exchange: NYSE
  • Founded: 1999
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$360.270m
  • Shares outstanding: 85.78m
  • Website: https://www.dianashippinginc.com

Number of Employees


Location

  • Diana Shipping Inc.
  • Pendelis 16
  • Palaio Faliro
  • Athens
  • 175 64
  • Greece

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/01 00:05
End of Day Share Price2021/11/30 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.