Diana Shipping Inc. (NYSE:DSX) climbs after Results
November 10, 2009 10:49 AM
Diana Shipping Inc. (NYSE:DSX) today reported its third quarter net income of $28.7 million versus $57.6 million a year earlier, revenues of $58.2 million versus $87.4 million a year ago period. Revenues declined due to a decline in charter rates and an increase in drydock days.
Diana Shipping announced third quarter earnings per share at $0.36, beating Deutsche Bank’s estimates by $0.02 a share. Deutsche Bank also feels that Diana Shipping is well positioned as it has moderate intermediate-term market exposure and also has a clean balance sheet position.
Currently, Diana is trading at $14.37, increased by 1.64% in the morning trading hours. So far this year, the stock has gained only 11%. The 52 week trading range for the stock is $6.85 - $19.00.
