B.Riley FBR Sticks to Their Buy Rating for Diamond S Shipping Inc (DSSI)

By Austin Angelo

In a report released today, Liam Burke from B.Riley FBR maintained a Buy rating on Diamond S Shipping Inc (DSSIResearch Report), with a price target of $17. The company’s shares closed yesterday at $13.47.

Burke observed:

“Diamond S. Shipping, Inc. (DSSI) announced 1Q19 results. The company completed its merger with Capital Products Partners LP (CPLP) on and only four days of the fully- merged entity are included in 1Q19 results. DSSI reported a 28.7% Y/Y increase in time charter equivalents (TCE) revenue ($62.8 million vs. $48.8 million) despite slightly fewer revenue days during 1Q19 (3,865 vs. 3,894). The company reported a loss per share of $0.04 compared to a loss per share of $0.51 a year ago. Adjusted EBITDA during 1Q19 increased to $30.3 million compared to $15.9 million a year ago. Results for 1Q19 reflect improvement in fleetwide daily TCE revenue per vessel for both crude and product tankers.”

According to TipRanks.com, Burke is ranked #3454 out of 5181 analysts.

The the analyst consensus on Diamond S Shipping Inc is currently a Hold rating.

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The company has a one-year high of $14.26 and a one-year low of $9.60. Currently, Diamond S Shipping Inc has an average volume of 162.5K.

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Diamond S Shipping, Inc. engages in the provision of seaborne transportation of crude oil, refined petroleum and other products in the international shipping markets. It includes gasoline, diesel, fuel oil and jet fuel, edible oils, and certain chemicals, such as ethanol under short-term voyage charters, and medium to long-term time and bareboat charters.