Noble Financial Weighs in on EuroDry Ltd.’s Q2 2024 Earnings (NASDAQ:EDRY)

EuroDry Ltd. (NASDAQ:EDRY) – Noble Financial raised their Q2 2024 EPS estimates for EuroDry in a report issued on Wednesday, May 22nd. Noble Financial analyst M. Heim now expects that the company will post earnings per share of $0.63 for the quarter, up from their prior estimate of $0.33. The consensus estimate for EuroDry’s current full-year earnings is $2.15 per share. Noble Financial also issued estimates for EuroDry’s FY2024 earnings at $1.52 EPS.

EuroDry Price Performance

NASDAQ:EDRY opened at $21.70 on Friday. EuroDry has a 52 week low of $13.42 and a 52 week high of $23.98. The firm has a market cap of $61.54 million, a price-to-earnings ratio of -19.04 and a beta of 0.74. The firm’s 50-day simple moving average is $20.98 and its 200 day simple moving average is $20.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.79 and a current ratio of 0.89.

Hedge Funds Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC raised its position in EuroDry Ltd. (NASDAQ:EDRY) by 26.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,917 shares of the company’s stock after buying an additional 3,362 shares during the quarter. Linden Thomas Advisory Services LLC owned about 0.56% of EuroDry worth $303,000 at the end of the most recent quarter. 2.44% of the stock is owned by hedge funds and other institutional investors.

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.