UPDATE: Clarkson Capital Raises PT on Diana Shipping Ahead of Earnings Results
In a report published Wednesday, Clarkson Capital Markets analyst Urs M. Dur reiterated his Market Perform rating on Diana Shipping (NYSE: DSX), and slightly raised his price target from $7.50 to $8.50.
In the report, Dur noted, “We expect DSX earnings results before the market opens on Thursday, March 14th. Adjusting the model for time charters announced over the last months, some of which were below our previously forecast expectations and given the weak dry bulk markets (lowering our spot Panamax 2013 average assumption to ~$11,000 average from $13,000 and lowering our Capesize spot TCE assumption to ~$13,500 from ~$18,000) that we have experienced of late, we are lowering estimates. 4Q14 drops to EPS of $0.06 from $0.07 and FY 2013 drops to a loss per share of ($0.14) from EPS of $0.24. The Street expects 4Q12 EPS of $0.08 and a FY 2013 loss per share of ($0.15).”
Diana Shipping closed on Tuesday at $9.20.
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