Diana Shipping: Numbers Look Compelling
Dan Wieman submits:
I’ve had Diana Shipping (DSX) on my radar for a while. I’m taking a closer look today after the company announced fourth quarter earnings. Diana shipping reported net income for the year of $121 million, and it has a market cap of about $1.1 billion. One could argue that the company is at the depths of the market for shipping, and the company is priced at 9x earnings.
Operating cash flow looks to be even stronger than earnings as depreciation and amortization of its boats and other assets clocked in at $45 million. Add this back to earnings, and the company has cash flow of around $166 million and is priced at 6.6x annual cash flow.
Investing, Long Term Investment, stock market | admin February 24, 2010
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