Noble Financial Has Positive Outlook for EuroDry Q2 Earnings

EuroDry (NASDAQ:EDRY) – Research analysts at Noble Financial increased their Q2 2026 earnings per share estimates for shares of EuroDry in a research report issued on Thursday, July 30th. Noble Financial analyst M. Reichman now anticipates that the company will post earnings per share of $1.44 for the quarter, up from their prior estimate of $1.18. The consensus estimate for EuroDry’s current full-year earnings is $4.27 per share.

EuroDry (NASDAQ:EDRY) last released its earnings results on Wednesday, May 20th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.30). The business had revenue of $12.79 million for the quarter, compared to analysts’ expectations of $15.62 million. EuroDry had a negative return on equity of 0.88% and a negative net margin of 0.55%.

Several other brokerages have also recently issued reports on EDRY. Weiss Ratings cut EuroDry from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

EuroDry Price Performance

EDRY stock opened at $26.38 on Monday. EuroDry has a 1 year low of $10.01 and a 1 year high of $28.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.61 and a quick ratio of 1.55. The firm has a market capitalization of $76.24 million, a PE ratio of -202.92 and a beta of 0.68. The business has a 50 day simple moving average of $23.16 and a 200-day simple moving average of $20.25.

Hedge Funds Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Renaissance Technologies LLC boosted its stake in EuroDry (NASDAQ:EDRY) by 53.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 60,347 shares of the company’s stock after purchasing an additional 21,047 shares during the period. Renaissance Technologies LLC owned about 2.09% of EuroDry worth $1,189,000 at the end of the most recent quarter. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

About EuroDry

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.