NYSE:DSX

Stock Analysis Report

Executive Summary

Diana Shipping Inc. provides shipping transportation services.

Rewards

Trading at 43.4% below its fair value

Earnings are forecast to grow 111.17% per year

Became profitable this year

Risk Analysis

Interest payments are not well covered by earnings

Highly volatile share price over past 3 months

Large one-off items impacting financial results



Snowflake Analysis

Fair value with moderate growth potential.


Similar Companies

Costamare

NYSE:CMRE

Share Price & News

How has Diana Shipping's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DSX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.2%

DSX

-0.4%

US Shipping

0.5%

US Market


1 Year Return

-10.2%

DSX

2.1%

US Shipping

20.3%

US Market

Return vs Industry: DSX underperformed the US Shipping industry which returned 2.1% over the past year.

Return vs Market: DSX underperformed the US Market which returned 20.3% over the past year.


Shareholder returns

DSXIndustryMarket
7 Day-2.2%-0.4%0.5%
30 Day-7.8%-14.2%2.0%
90 Day-19.8%-8.3%9.4%
1 Year-10.2%-10.2%4.1%2.1%22.8%20.3%
3 Year-27.5%-27.5%-1.9%-7.0%50.1%40.4%
5 Year-61.0%-61.0%-48.7%-54.3%73.1%54.1%

Price Volatility Vs. Market

How volatile is Diana Shipping's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

43.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DSX ($2.72) is trading below our estimate of fair value ($4.8)

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 (458.1x) compared to the Shipping industry average (13.9x).

PE vs Market: DSX is poor value based on its PE Ratio (458.1x) compared to the US market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: DSX is poor value based on its PEG Ratio (4.1x)


Price to Book Ratio

PB vs Industry: DSX is good value based on its PB Ratio (0.4x) compared to the US Shipping industry average (0.4x).


Next Steps

Future Growth

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

111.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DSX's forecast earnings growth (111.2% per year) is above the savings rate (1.7%).

Earnings vs Market: DSX's earnings (111.2% 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 (2.9% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: DSX's revenue (2.9% 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 (5.2%).


Next Steps

Past Performance

How has Diana Shipping performed over the past 5 years?

-20.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DSX has a large one-off loss of $11.8M impacting its September 30 2019 financial results.

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 -20.7% 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 (22%).


Return on Equity

High ROE: DSX's Return on Equity (1.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Diana Shipping's financial position?


Financial Position Analysis

Short Term Liabilities: DSX's short term assets ($144.2M) exceed its short term liabilities ($125.2M).

Long Term Liabilities: DSX's short term assets ($144.2M) do not cover its long term liabilities ($383.0M).


Debt to Equity History and Analysis

Debt Level: DSX's debt to equity ratio (80.4%) is considered high.

Reducing Debt: DSX's debt to equity ratio has increased from 28.8% to 80.4% over the past 5 years.


Balance Sheet

Inventory Level: DSX has a high level of physical assets or inventory.

Debt Coverage by Assets: DSX's debt is not covered by short term assets (assets are 0.3x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: DSX is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: Insufficient data to determine if DSX has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage4.1%forecastin3Years0%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate DSX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate DSX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if DSX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if DSX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: DSX is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of DSX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

14.7yrs

Average management tenure


CEO

Simeon Palios (78yo)

15yrs

Tenure

0

Mr. Symeon P. Palios has been the Chairman of the Board and Chief Executive Officer at Diana Shipping Inc. since February 21, 2005. Mr. Palios has been the Chairman of the Board and Chief Executive Officer ...


Leadership Team

NamePositionTenureCompensationOwnership
Simeon Palios
Chairman of the Board & CEO15yrsno data18.17% $41.7m
Anastasios Margaronis
President & Director15yrsno data7.91% $18.2m
Andreas Michalopoulos
CFO, Treasurer & Director1.5yrsno datano data
Semiramis Paliou
Deputy CEO4.9yrsno datano data
Maria Dede
Chief Accounting Officer14.4yrsno datano data
Ioannis Zafirakis
Chief Strategy Officer20.9yrsno datano data

14.7yrs

Average Tenure

47.5yo

Average Age

Experienced Management: DSX's management team is seasoned and experienced (14.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Simeon Palios
Chairman of the Board & CEO15yrsno data18.17% $41.7m
Anastasios Margaronis
President & Director15yrsno data7.91% $18.2m
Andreas Michalopoulos
CFO, Treasurer & Director1.5yrsno datano data
Semiramis Paliou
Deputy CEO4.9yrsno datano data
Ioannis Zafirakis
Chief Strategy Officer20.9yrsno datano data
Konstantinos Psaltis
Independent Director14.9yrsno datano data
William Lawes
Independent Director14.9yrsno datano data
Apostolos Kontoyannis
Independent Director14.9yrsno datano data
Konstantinos Fotiadis
Independent Director2.8yrsno datano data
Kyriacos Riris
Independent Director4.9yrsno datano data

14.9yrs

Average Tenure

68.5yo

Average Age

Experienced Board: DSX's board of directors are seasoned and experienced ( 14.9 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Diana Shipping Inc.'s company bio, 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$229.572m
  • Shares outstanding: 84.40m
  • Website: https://www.dianashippinginc.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DSXNYSE (New York Stock Exchange)YesCommon StockUSUSDMar 2005
DSZDB (Deutsche Boerse AG)YesCommon StockDEEURMar 2005
DSX.PRBNYSE (New York Stock Exchange)PERP PFD SER BUSUSDFeb 2014

Biography

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 through its ownership of dry bulk vessels worldwide. As of September 5, 2019, it operated a fleet of 43 dry bulk vessels comprising 4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax, and 15 Panamax vessels. The company was formerly known as Diana Shipping Investments Corp. and changed its name to Diana Shipping Inc. in February 2005. Diana Shipping Inc. was founded in 1999 and is based in Athens, Greece. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/20 00:54
End of Day Share Price2020/02/19 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.