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

EuroDry (NASDAQ:EDRY) announced its quarterly earnings results 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 Trading Down 4.4%

NASDAQ EDRY opened at $20.61 on Wednesday. The company’s fifty day moving average price is $20.21 and its two-hundred day moving average price is $16.36. The company has a market capitalization of $59.56 million, a price-to-earnings ratio of -13.13 and a beta of 0.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.53 and a quick ratio of 1.46. EuroDry has a 12 month low of $7.60 and a 12 month high of $23.98.

Analyst Upgrades and Downgrades

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

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.