Market Overview

UPDATE: Dahlman Rose Reiterates Buy Rating, Lowers PT on Diana Containerships

Related DCIX
Earnings Scheduled For February 27, 2015
Baltic Dry Index Continues Its Decline, Shipping Stocks Mixed
Notable earnings before Friday's open (Seeking Alpha)

In a report published Monday, Dahlman Rose & Co. reiterated its Buy rating on Diana Containerships (NASDAQ: DCIX), but slightly lowered its price target from $9.00 to $8.00.

Dahlman Rose noted, “DCIX's reiterated dividend policy represents a $1.20 annual dividend and a 22% yield at the current stock price. The company's low financial leverage puts it in very good position for accretive acquisitions in the near term. We estimate 2013 operating CF per share at $0.91 based on the company's existing fleet, suggesting the $1.20 dividend is not sustainable. However, another acquisition like the APL Garnet would boost CF by $0.17/share and take its leverage from 27% to just 34%. We expect DCIX shares to gradually approach a 15% yield in the coming quarters and, as such, target $8 – down from $9 previously.”

Diana Containerships closed on Friday at $5.52.

Latest Ratings for DCIX

Jun 2014BarclaysDowngradesEqual-weightUnderweight
May 2014JefferiesMaintainsBuy
Jul 2013JefferiesMaintainsBuy

View More Analyst Ratings for DCIX
View the Latest Analyst Ratings

Posted-In: Dahlman Rose & Co.Analyst Color Price Target Analyst Ratings


Related Articles (DCIX)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→