Cleaves Securities Maintains a Buy Rating on Diana Shipping (DSX)

In a report issued on August 14, Joakim Hannisdahl from Cleaves Securities maintained a Buy rating on Diana Shipping (DSXResearch Report), with a price target of $2.80. The company’s shares closed last Monday at $1.49, close to its 52-week low of $1.25.

According to TipRanks.com, Hannisdahl is a 3-star analyst with an average return of 2.7% and a 54.7% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.

Diana Shipping has an analyst consensus of Strong Buy, with a price target consensus of $2.53.

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Based on Diana Shipping’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $40.98 million and GAAP net loss of $10.79 million. In comparison, last year the company earned revenue of $55.39 million and had a GAAP net loss of $1.3 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.