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Should You Sell Diana Shipping (DSX) Before Earnings?
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Investors are always looking for stocks that are poised to beat at earnings season and Diana Shipping Inc. (DSX - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Diana Shipping is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for DSX in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 39 cents per share for DSX, compared to a broader Zacks Consensus Estimate of a loss of 40 cents per share. This suggests that analysts have very recently bumped up their estimates for DSX, giving the stock a Zacks Earnings ESP of 2.50% heading into earnings season.
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10 year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Clearly, recent earnings estimate revisions suggest that good things are ahead for Diana Shipping, and that a beat might be in the cards for the upcoming report.
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Should You Sell Diana Shipping (DSX) Before Earnings?
Investors are always looking for stocks that are poised to beat at earnings season and Diana Shipping Inc. (DSX - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Diana Shipping is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for DSX in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 39 cents per share for DSX, compared to a broader Zacks Consensus Estimate of a loss of 40 cents per share. This suggests that analysts have very recently bumped up their estimates for DSX, giving the stock a Zacks Earnings ESP of 2.50% heading into earnings season.
Diana Shipping inc. Price and EPS Surprise
Diana Shipping inc. Price and EPS Surprise | Diana Shipping inc. Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10 year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that DSX has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Diana Shipping, and that a beat might be in the cards for the upcoming report.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.Click here for Zacks' private trades >>