Zacks: Brokerages Set $17.50 Target Price for Diamond S Shipping Inc (NYSE:DSSI)

Diamond S Shipping Inc (NYSE:DSSI) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokers have set a 12 month consensus price target of $17.50 for the company and are predicting that the company will post ($0.51) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Diamond S Shipping an industry rank of 149 out of 256 based on the ratings given to its competitors.

A number of research firms have commented on DSSI. B. Riley began coverage on shares of Diamond S Shipping in a research report on Thursday, April 4th. They issued a “buy” rating and a $16.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Diamond S Shipping in a research report on Tuesday, June 4th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Clarkson Capital assumed coverage on shares of Diamond S Shipping in a research note on Tuesday, April 9th. They set a “buy” rating and a $25.00 price target on the stock.

In other Diamond S Shipping news, SVP Michael G. Fogarty purchased 18,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $11.04 per share, for a total transaction of $198,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig H. Stevenson, Jr. purchased 20,231 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $11.69 per share, for a total transaction of $236,500.39. The disclosure for this purchase can be found here. Insiders have acquired 77,446 shares of company stock worth $926,192 over the last quarter.

Large investors have recently modified their holdings of the business. Arrow Investment Advisors LLC purchased a new stake in Diamond S Shipping during the first quarter worth about $235,000. Oaktree Capital Management LP purchased a new stake in shares of Diamond S Shipping during the first quarter worth approximately $836,000. Goodman Financial Corp purchased a new stake in shares of Diamond S Shipping during the first quarter worth approximately $992,000. Donald Smith & CO. Inc. purchased a new stake in shares of Diamond S Shipping during the first quarter worth approximately $5,123,000. Finally, CarVal Investors LLC purchased a new stake in shares of Diamond S Shipping during the first quarter worth approximately $27,041,000. Institutional investors own 56.46% of the company’s stock.

NYSE DSSI traded down $0.36 during trading hours on Thursday, reaching $12.22. The company had a trading volume of 2,012 shares, compared to its average volume of 326,503. The firm has a 50-day moving average price of $12.10. Diamond S Shipping has a 1-year low of $9.60 and a 1-year high of $14.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.86.

Diamond S Shipping (NYSE:DSSI) last posted its earnings results on Tuesday, May 14th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). The business had revenue of $102.66 million for the quarter, compared to the consensus estimate of $144.85 million. As a group, analysts anticipate that Diamond S Shipping will post 0.34 EPS for the current year.

Diamond S Shipping Company Profile

Diamond S Shipping Inc operates as a shipping company. The company operates through two segments, Crude Tankers and Product Tankers. It provides seaborne transportation of crude oil, refined petroleum, and other production. As of March 28, 2019, it owned and operated a fleet of 68 vessels, including 15 Suezmax vessels, 1 Aframax, and 52 medium-range product tankers.

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