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Diana Shipping (DSX)
:DSX
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Diana Shipping
(NYSE:DSX)
55Neutral
Diana Shipping (DSX) vs. S&P 500 (SPY)
Market Cap
$169.02M
Dividend Yield11.64%
Average Volume (3M)310.41K
Price to Earnings (P/E)24.8
Beta (1Y)0.70
Revenue Growth-12.93%
EPS Growth-86.34%
CountryUS
Employees981
SectorIndustrials
Sector Strength66
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.06
Shares Outstanding115,767,860
10 Day Avg. Volume226,999
30 Day Avg. Volume310,412
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.79
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Diana Shipping Business Overview & Revenue Model
Company DescriptionDiana 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 April 13, 2022, it operated a fleet of 35 dry bulk vessels, including 4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 6 Kamsarmax, and 8 Panamax. 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 incorporated in 1999 and is based in Athens, Greece.
How the Company Makes MoneyDiana Shipping Inc. generates revenue primarily through time charter contracts and voyage charters. In time charter agreements, the company leases its vessels to clients for a fixed period, during which the client assumes operational control and responsibility for the vessel's expenses, while paying Diana Shipping a daily hire rate. Voyage charters, on the other hand, involve leasing a vessel for a single voyage between specified ports with Diana Shipping covering the operating expenses, including fuel and port charges, in exchange for a freight rate. The company benefits from its strategic partnerships with major international shipping companies, enabling it to secure long-term contracts and stable revenue streams. Additionally, market conditions affecting the supply and demand for dry bulk shipping capacity can significantly influence the company's earnings.
Diana Shipping Financial Statement Overview
Summary
Diana Shipping exhibits stable profitability with a gross margin of 57.85% and a net margin of 5.59%, but faces declining revenues and profit margins. The balance sheet is stable with moderate leverage, yet liquidity concerns arise from the cash flow statement with zero free cash flow recently.Income Statement
Diana Shipping has faced fluctuating revenue over the years, with a noticeable decline in total revenue in the latest period. The company maintains a reasonable gross profit margin of 57.85% and a net profit margin of 5.59% for 2024, indicating some profitability despite challenges. However, the significant revenue drop in 2024 compared to previous years and a declining trend in EBIT and EBITDA margins indicate pressures on operating efficiency.65
Positive
Balance Sheet
The company has a moderate debt-to-equity ratio of 1.26, suggesting a balanced leverage position. Stockholders' equity has remained relatively stable, and the equity ratio of 43.13% indicates a solid capital structure. However, the total liabilities are high compared to assets, which may pose potential risks if not managed properly.70
Positive
Cash Flow
Despite having a free cash flow of zero in the latest period, Diana Shipping had a positive operating cash flow in previous years, indicating past operational cash generation ability. However, the absence of free cash flow growth and zero operating cash flow in the latest period highlight potential liquidity issues.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 228.21M | 262.10M | 289.97M | 214.20M | 169.73M | Gross Profit |
| 132.01M | 113.21M | 167.67M | 93.39M | 27.37M | EBIT |
| 58.78M | 85.71M | 98.36M | 21.84M | -7.20M | EBITDA |
| 97.90M | 96.25M | 188.91M | 120.89M | -68.00M | Net Income Common Stockholders |
| 12.75M | 49.84M | 119.06M | 77.65M | -112.72M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 207.17M | 162.32M | 143.93M | 126.79M | 82.91M | Total Assets |
| 1.17B | 1.17B | 1.18B | 842.16M | 872.41M | Total Debt |
| 637.52M | 642.77M | 754.94M | 423.68M | 420.31M | Net Debt |
| 494.36M | 541.18M | 611.01M | 296.89M | 337.40M | Total Liabilities |
| 665.96M | 677.39M | 695.59M | 448.75M | 443.84M | Stockholders Equity |
| 505.06M | 489.02M | 487.33M | 393.40M | 428.57M |
| Cash Flow | Free Cash Flow | |||
| 59.30M | 38.64M | -72.11M | 70.71M | 11.10M | Operating Cash Flow |
| 83.53M | 70.38M | 158.86M | 89.70M | 17.23M | Investing Cash Flow |
| -39.78M | 24.93M | -273.10M | 13.36M | 10.48M | Financing Cash Flow |
| -21.67M | -71.14M | 84.88M | -59.19M | -73.10M |
Diana Shipping Technical Analysis
Negative
1.46
Price Trends
1.68
Negative
1.76
Negative
2.08
Negative
Market Momentum
-0.07
Negative
43.13
Neutral
63.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DSX, the sentiment is Negative. The current price of 1.46 is below the 20-day moving average (MA) of 1.48, below the 50-day MA of 1.68, and below the 200-day MA of 2.08, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 43.13 is Neutral, neither overbought nor oversold. The STOCH value of 63.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DSX.
Diana Shipping Risk Analysis
Diana Shipping disclosed 116 risk factors in its most recent earnings report. Diana Shipping reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Diana Shipping Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $942.12M | 2.67 | 12.46% | 0.60% | 2.08% | -14.91% | |
72 Outperform | $1.59B | 4.84 | 14.71% | 15.78% | 33.31% | 62.94% | |
71 Outperform | $1.40B | 6.31 | 11.68% | 13.72% | 9.33% | 98.70% | |
69 Neutral | $526.68M | 7.00 | 8.30% | 11.91% | 10.21% | ― | |
66 Neutral | $353.71M | 4.04 | 11.99% | 6.01% | 8.17% | 35.92% | |
63 Neutral | $4.14B | 11.23 | 5.47% | 215.40% | 4.10% | -8.63% | |
55 Neutral | $169.02M | 24.83 | 2.56% | 11.64% | -12.93% | -86.34% |
* Industrials Sector Average
Performance Comparison
DSX
Diana Shipping
1.49
-1.24
-45.42%
GNK
Genco Shipping
12.87
-6.68
-34.17%
NMM
Navios Maritime Partners
34.25
-9.51
-21.73%
SB
Safe Bulkers
3.36
-1.45
-30.15%
SBLK
Star Bulk Carriers
14.45
-7.57
-34.38%
GOGL
Golden Ocean Group
7.74
-4.77
-38.13%
Diana Shipping Earnings Call Summary
Earnings Call Date: Feb 25, 2025 | % Change Since: -18.44% | Next Earnings Date: May 16, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong fleet management and strategic financial decisions, including successful chartering strategies and a commitment to ESG. However, the company faced challenges with declining revenue and earnings per share, along with market volatility affecting time charter rates.Highlights
Fleet Utilization and Management
Fleet utilization reached 99.7% for the fiscal year 2024, indicating effective vessel management. Diana Shipping operates a fleet of 38 dry bulk vessels, with an average age of 11.4 years and a total deadweight capacity of approximately 4.2 million tons.
Successful Financial Moves
Secured revenues for 63% of the remaining ownership days of 2025, amounting to approximately $125 million, and 10% of available ownership days in 2026, amounting to approximately $30 million. The company holds significant cash reserves of $207 million.
Chartering Strategy
Secured favorable time charters for multiple vessels with daily rates ranging from $11,260 to $18,312, showcasing a disciplined chartering strategy to ensure earnings visibility and resilience against market downturns.
ESG Commitment
Released the fifth annual ESG report, highlighting the company's commitment to sustainability and eco-friendly technologies.
Lowlights
Revenue and Income Decline
Revenue for the fourth quarter of 2024 was $57.1 million, down 5% from $60 million in the same quarter of the previous year. Net income for 2024 was $12.7 million, a significant decrease from $49.8 million in 2023.
Earnings Per Share Drop
Diluted earnings per common share decreased to $0.02 in the fourth quarter of 2024 from $0.06 in the same quarter of 2023 due to an increased average number of shares and other income adjustments.
Time Charter Equivalent Rate Decrease
The time charter equivalent for 2024 was $15,267, down from $16,713 in 2023, reflecting decreased average rates achieved during the year.
Dry Bulk Market Volatility
The dry bulk market experienced significant volatility, with the Baltic Dry Index dropping to 715 by January 2025, down from a high of 2,419 in March 2024.
Company Guidance
During the Diana Shipping Inc. 2024 fourth quarter and year-end conference call, the company provided a comprehensive review of its financial performance and strategic initiatives. For fiscal year 2024, Diana Shipping achieved a fleet utilization rate of 99.7%, underscoring their effective vessel management. The company operates 38 dry bulk vessels, with seven being mortgage-free, and a total deadweight capacity of approximately 4.2 million tons. Financially, Diana Shipping reported a net debt standing at 40% of market value, bolstered by $207 million in cash reserves. The fourth quarter revenue was $57.1 million, a slight decrease from $60 million in the same period last year, while adjusted EBITDA stood at $25.9 million. The company declared a quarterly cash dividend of $0.01 per common share, totaling about $1.1 million. The guidance highlighted the successful refinancing of existing debt, securing $80.2 million through a new term loan facility, and the completion of a $25 million tap issue under their outstanding senior unsecured bond. Looking ahead, contracted revenues for the remaining ownership days of 2025 are projected at $124.8 million, with $30 million for 2026. Additionally, Diana Shipping's strategy includes fleet modernization with the anticipated delivery of two methanol dual-fuel newbuilding Kamsarmax vessels and an emphasis on an ongoing environmental, social, and governance (ESG) strategy.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.