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TheStreet Open House

Dry Bulk 2011: Working Through the Glut

Stocks in this article: DRYSDSXEXMGNK

Diana Shipping

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P/E Ratio: 8.01

Company Profile
Praised for its conservatism and balance-sheet caution in an industry not otherwise known for such things, Diana Shipping has moved into the only sector of the broader maritime shipping industry that has performed well: container ships. After an even more disastrous run amid the financial crisis than either dry bulk or oil tankers, container shipping has rebounded strongly throughout 2010 as trade in finished goods around the globe has improved with the end of the recession. Diana plans to offer 80% of the container fleet later this month, on Jan. 18, to shareholders of record Jan. 3.

Income Statement
For fourth-quarter earnings, analysts expect Diana to post 41 cents a share. Revenue is forecast at about $70 million. A year ago, Diana earned 34 cents a share, on revenue of $57 million.

Analyst Ratings
Diana is well liked by Wall Street. Of the 14 analysts covering the company, 12, or 86%, have strong buy ratings on the stock. Just two have hold ratings.

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