Himalaya Shipping (NYSE:HSHP) Announces Earnings Results, Meets Expectations

Himalaya Shipping (NYSE:HSHP) posted its quarterly earnings data on Tuesday. The company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71, FiscalAI reports. The company had revenue of $62.60 million during the quarter, compared to analyst estimates of $61.51 million. Himalaya Shipping had a net margin of 31.44% and a return on equity of 32.83%.

Himalaya Shipping Trading Up 1.6%

Shares of HSHP stock traded up $0.25 on Tuesday, reaching $15.91. 290,914 shares of the company’s stock were exchanged, compared to its average volume of 368,661. Himalaya Shipping has a 52 week low of $7.87 and a 52 week high of $19.55. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. The stock has a market capitalization of $742.39 million, a PE ratio of 14.08 and a beta of 1.39. The company’s fifty day simple moving average is $17.29 and its 200 day simple moving average is $14.89.

Himalaya Shipping Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, October 27th. Investors of record on Monday, October 19th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, October 16th. This is an increase from Himalaya Shipping’s previous dividend of $0.25.

Analyst Ratings Changes

HSHP has been the topic of a number of analyst reports. Clarkson Capital upgraded shares of Himalaya Shipping from a “neutral” rating to a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings upgraded shares of Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

About Himalaya Shipping

Himalaya Shipping Ltd. is a dry bulk shipping company incorporated in Bermuda. It owns and operates Newcastlemax vessels, large bulk carriers designed to transport commodities such as iron ore, coal and grain. The company’s fleet is equipped with dual-fuel engines that can run on liquefied natural gas as well as conventional marine fuel. Its vessels serve international bulk shipping routes, carrying cargo between major commodity-producing and consuming regions. Himalaya Shipping began building its fleet in the early 2020s and became a publicly traded company in 2023.