EuroDry (NASDAQ:EDRY) Announces Quarterly Earnings Results

EuroDry (NASDAQ:EDRY) announced its quarterly earnings results 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 Price Performance

EDRY stock traded up $0.65 during mid-day trading on Thursday, reaching $16.90. The company had a trading volume of 18,536 shares, compared to its average volume of 4,951. The firm has a fifty day simple moving average of $13.45 and a 200 day simple moving average of $12.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.21. EuroDry has a fifty-two week low of $7.60 and a fifty-two week high of $18.01.

Analysts Set New Price Targets

Several research firms recently weighed in on EDRY. Noble Financial upgraded shares of EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 target price for the company in a report on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of EuroDry in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded EuroDry from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.