Jefferies Reiterates a 'Buy' on Diana Shipping (DSX) on Attractive Valuation; 3Q11 EPS Tops Expectations

Jefferies reiterates a 'Buy' on Diana Shipping (NYSE: DSX) price target lowered from $12 to $11.

Jefferies analyst said, "Diana Shipping reported 3Q11 EPS of $0.33 which topped Street consensus of $0.32 and was in line with our estimate as slightly weaker than anticipated TCE rates earned during the quarter were more than offset by lower than expected G&A and vessel operating expenses."

"We are reducing our 4Q11 and 2012 EPS estimates to reflect our increased net interest and depreciation expense expectations reflecting updated company guidance. Our 2012 EPS estimate remains based on average Capesize spot charter rates of $18,000 per day and average Panamax spot charter rates of $15,000 per day." (FY11 EPS estimate goes from $1.36 to $1.32 and FY12 from $0.90 to $0.85)

For an analyst ratings summary and ratings history on Diana Shipping click here. For more ratings news on Diana Shipping click here.

Shares of Diana Shipping closed at $7.38 yesterday.

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