EuroDry (NASDAQ:EDRY) Issues Quarterly Earnings Results, Misses Estimates By $0.33 EPS

EuroDry (NASDAQ:EDRY) announced its quarterly earnings data on Thursday. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.33), Zacks reports. EuroDry had a negative net margin of 21.73% and a negative return on equity of 9.87%.

EuroDry Stock Performance

Shares of EDRY stock traded up $0.65 during trading on Thursday, hitting $16.90. 18,536 shares of the stock traded hands, compared to its average volume of 4,951. EuroDry has a 52-week low of $7.60 and a 52-week high of $18.01. The company has a quick ratio of 1.21, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average price is $13.45 and its 200-day moving average price is $12.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Noble Financial upgraded shares of EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 price objective for the company in a report on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EuroDry in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, EuroDry presently has an average rating of “Moderate Buy” 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.