Himalaya Shipping (NYSE:HSHP) Issues Earnings Results, Beats Estimates By $0.01 EPS

Himalaya Shipping (NYSE:HSHP) announced its quarterly earnings data on Thursday. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01, Zacks reports. Himalaya Shipping had a net margin of 5.32% and a return on equity of 4.03%. The business had revenue of $37.40 million during the quarter, compared to the consensus estimate of $41.45 million.

Himalaya Shipping Stock Performance

Shares of NYSE:HSHP traded up $0.05 during midday trading on Friday, hitting $7.73. 119,224 shares of the stock were exchanged, compared to its average volume of 138,248. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50-day moving average price is $8.13 and its 200 day moving average price is $6.98. Himalaya Shipping has a 12 month low of $4.29 and a 12 month high of $8.95.

Himalaya Shipping Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 17th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 14th.

Institutional Investors Weigh In On Himalaya Shipping

Several hedge funds have recently added to or reduced their stakes in HSHP. JPMorgan Chase & Co. increased its position in Himalaya Shipping by 445.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,011 shares of the company’s stock valued at $733,000 after acquiring an additional 72,692 shares during the period. Manatuck Hill Partners LLC acquired a new position in shares of Himalaya Shipping during the second quarter worth $721,000. Bank of America Corp DE grew its stake in shares of Himalaya Shipping by 29.8% in the second quarter. Bank of America Corp DE now owns 24,506 shares of the company’s stock worth $141,000 after purchasing an additional 5,631 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Himalaya Shipping by 28.2% in the second quarter. Russell Investments Group Ltd. now owns 158,189 shares of the company’s stock valued at $913,000 after purchasing an additional 34,758 shares during the period. Finally, Rhumbline Advisers increased its holdings in Himalaya Shipping by 42.4% in the second quarter. Rhumbline Advisers now owns 56,260 shares of the company’s stock valued at $325,000 after purchasing an additional 16,747 shares during the period. 22.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HSHP shares. Wall Street Zen lowered Himalaya Shipping from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Himalaya Shipping has a consensus rating of “Hold”.

About Himalaya Shipping

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.