EuroDry (NASDAQ:EDRY) Issues Earnings Results, Misses Estimates By $0.12 EPS

EuroDry (NASDAQ:EDRY) released its quarterly earnings data on Wednesday. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.12), Zacks reports. EuroDry had a negative net margin of 8.16% and a negative return on equity of 6.83%.

EuroDry Price Performance

Shares of EDRY opened at $20.27 on Wednesday. The firm has a fifty day simple moving average of $20.21 and a two-hundred day simple moving average of $16.36. The firm has a market cap of $58.58 million, a PE ratio of -12.91 and a beta of 0.65. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.89. EuroDry has a 1-year low of $7.60 and a 1-year high of $23.98.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EDRY. Noble Financial raised EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 price target on the stock in a report on Thursday, February 12th. Zacks Research downgraded EuroDry from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Weiss Ratings raised EuroDry from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, EuroDry presently has a consensus rating of “Hold” and an average price target of $23.50.

EuroDry Company Profile

EuroDry Limited is a Marshall Islands–incorporated shipping company, formed in 2005 and headquartered in Piraeus, Greece. The company is publicly traded on the NASDAQ under the symbol EDRY. Since its inception, EuroDry has focused exclusively on the marine transportation of drybulk commodities and has grown its fleet through a combination of newbuilding contracts and second-hand acquisitions.

As of mid-2024, EuroDry’s operating fleet comprises Capesize, Panamax and Supramax drybulk carriers, collectively providing over one million deadweight tons (dwt) of capacity.