EuroDry (NASDAQ:EDRY) Issues Earnings Results, Misses Estimates By $0.08 EPS

EuroDry (NASDAQ:EDRY) posted its quarterly earnings results on Thursday. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08), Zacks reports. The firm had revenue of $14.39 million for the quarter, compared to analysts’ expectations of $14.56 million. EuroDry had a negative net margin of 28.64% and a negative return on equity of 12.65%.

EuroDry Price Performance

NASDAQ:EDRY traded up $0.05 during trading hours on Friday, reaching $13.28. 1,217 shares of the stock were exchanged, compared to its average volume of 5,127. The firm has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $10.66. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 0.89. EuroDry has a 52 week low of $7.60 and a 52 week high of $16.14.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EDRY. Zacks Research upgraded shares of EuroDry from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EuroDry in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

EuroDry Company Profile

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. It owns and operates a fleet of drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. The company fleet consisted of 13 drybulk carriers comprising five Panamax drybulk carriers, two Kamsarmax, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 918,502 dwt.