EuroDry (NASDAQ:EDRY) Announces Quarterly Earnings Results, Misses Expectations By $0.12 EPS

EuroDry (NASDAQ:EDRY) announced its earnings results on Wednesday. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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

NASDAQ EDRY opened at $20.61 on Wednesday. EuroDry has a 1 year low of $7.60 and a 1 year high of $23.98. The business’s fifty day moving average is $20.21 and its two-hundred day moving average is $16.36. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.46 and a current ratio of 1.53. The stock has a market capitalization of $59.56 million, a P/E ratio of -13.13 and a beta of 0.65.

Analyst Ratings Changes

EDRY has been the subject of a number of research analyst reports. Weiss Ratings raised shares of EuroDry from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Wall Street Zen raised EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Zacks Research downgraded EuroDry from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Noble Financial upgraded 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. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.