Could Diana Shipping Inc. (DSX) Change Direction After This Bearish Double Bottom Chart Pattern

July 16, 2018 - By Kristin Houston

Diana Shipping Inc. (NYSE:DSX) Logo

The chart of Diana Shipping Inc. (DSX) shows a double bottom with $4.11 target or 7.00 % below today’s $4.42 share price. The 7 months chart pattern indicates high risk for the $476.89M company. It was reported on Jul, 16 by Finviz.com. If the $4.11 price target is reached, the company will be worth $33.38 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 4.77% or $0.2215 during the last trading session, reaching $4.4185. About 329,557 shares traded. Diana Shipping Inc. (NYSE:DSX) has risen 7.93% since July 16, 2017 and is uptrending. It has underperformed by 4.64% the S&P500.

Analysts await Diana Shipping Inc. (NYSE:DSX) to report earnings on July, 25. They expect $-0.03 earnings per share, up 88.46 % or $0.23 from last year’s $-0.26 per share. After $-0.04 actual earnings per share reported by Diana Shipping Inc. for the previous quarter, Wall Street now forecasts -25.00 % EPS growth.

Diana Shipping Inc. (NYSE:DSX) Ratings Coverage

Among 4 analysts covering Diana Shipping (NYSE:DSX), 1 have Buy rating, 0 Sell and 3 Hold. Therefore 25% are positive. Diana Shipping has $5.0 highest and $4 lowest target. $5.67’s average target is 28.32% above currents $4.4185 stock price. Diana Shipping had 5 analyst reports since January 17, 2018 according to SRatingsIntel. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, April 17. On Friday, May 11 the stock rating was upgraded by Pareto to “Buy”. The stock of Diana Shipping Inc. (NYSE:DSX) has “Hold” rating given on Wednesday, January 17 by J.P. Morgan. The stock has “Equal-Weight” rating by Morgan Stanley on Monday, February 12. The company was downgraded on Wednesday, January 17 by JP Morgan.

More notable recent Diana Shipping Inc. (NYSE:DSX) news were published by: Streetinsider.com which released: “Diana Shipping (DSX) Announces Time Charter Contract for m/v Philadelphia” on June 21, 2018, also Nasdaq.com with their article: “Analysis: Positioning to Benefit within Colony NorthStar Credit Real Estate, TIM Participacoes SA, Diana Shipping inc …” published on July 02, 2018, Streetinsider.com published: “Diana Shipping (DSX) Announces Time Charter Contract for m/v Maera” on July 10, 2018. More interesting news about Diana Shipping Inc. (NYSE:DSX) were released by: Globenewswire.com and their article: “Diana Shipping Inc. Announces Signing and Drawdown of a US$75 Million Term Loan Facility With BNP Paribas” published on July 16, 2018 as well as Seekingalpha.com‘s news article titled: “Diana Shipping announces direct continuation of time charter contract for m/v Polymnia with Cargill” with publication date: July 02, 2018.

Diana Shipping Inc. provides shipping transportation services. The company has market cap of $476.89 million. The firm transports a range of dry bulk cargoes, including iron ore, coal, and grains, as well as steel products, cement, and fertilizers through its ownership of dry bulk vessels worldwide. It currently has negative earnings. It operates a fleet of 48 dry bulk vessels comprising 23 Panamax, 4 Kamsarmax, 3 Post-Panamax, 14 Capesize, and 4 Newcastlemax vessels.

Diana Shipping Inc. (NYSE:DSX) Ratings Chart

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