Jefferies Cuts Price Target on Diana Containerships (DCIX) as Fleet Utilization Holds EPS to a Miss

Jefferies maintained a Buy rating on Diana Containerships (NASDAQ: DCIX), and cut the price target to $1.00 (from $3.00), following the company's 4Q earnings report. DCIX reported adjusted EPS loss of $0.03, which was below Street consensus of an EPS loss of $0.01. The miss can be primarily attributed to lower than expected fleet utilization during the quarter.

Analyst Douglas Mavrinac commented, "This morning, Diana Containerships reported an adjusted 4Q15 EPS loss of $0.03 which was below Street consensus of an EPS loss of $0.01 and our estimate of an EPS gain of $0.01 primarily due to lower than expected fleet utilization during the quarter. While the near-term outlook for the containership market remains relatively unattractive, we do believe DCIX shares are attractively valued trading at nearly a 50% discount to NAV."

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

Shares of Diana Containerships closed at $0.37 yesterday.

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