Market Overview

UPDATE: Stifel Nicolaus Initiates Diana Shipping at Hold on Fair Valuation

Share:
Related DSX
Shippers Surge As Baltic Dry Index Notches Another Uptick
Earnings Scheduled For May 18, 2016
Crazy Spike Of The Day: Eagle Bulk Shipping (Seeking Alpha)

In a report published Thursday, Stifel Nicolaus analyst Benjamin Nolan initiated coverage on Diana Shipping (NYSE: DSX) with a Hold rating.

In the report, Stifel Nicolaus noted, “We are initiating coverage of Diana Shipping (DSX) with a Hold rating on the shares. Although Diana unquestionably has one of the most solid balance sheets in the dry bulk shipping peer group and, therefore, the capacity to acquire distressed assets, we believe the dry bulk shipping industry is still at least a year from a cyclical recovery. DSX shares are already trading in line with our $9.80 NAV value estimate and at a 2014E EV/EBITDA multiple of 14.6x. As a result, we believe they are fully valued and unlikely to move materially higher in the absence of a cyclical upswing in dry bulk shipping charter rates.”

Diana Shipping closed on Wednesday at $10.01.

Latest Ratings for DSX

DateFirmActionFromTo
Aug 2016Deutsche BankUpgradesSellHold
Aug 2016Seaport GlobalAssumesNeutral
Jul 2016JefferiesMaintainsHold

View More Analyst Ratings for DSX
View the Latest Analyst Ratings

Posted-In: Benjamin Nolan Stifel NicolausAnalyst Color Initiation Analyst Ratings

 

Related Articles (DSX)

View Comments and Join the Discussion!