EuroDry (NASDAQ:EDRY) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded EuroDry from "strong‑buy" to "buy"; the analyst mix is split (one Strong Buy, one Buy, one Sell) with an average rating of Moderate Buy and an average target price of $23.50.
• EuroDry reported quarterly EPS of $0.87, beating estimates of $0.78 while revenue of $17.39M slightly missed expectations, and the company still shows negative ROE (−6.83%) and net margin (−8.16%); analysts project about 2.98 EPS for the fiscal year.
• Shares opened at $20.86, implying a market cap near $60.3M and a negative P/E of −13.29, with a 12‑month trading range of $7.60 to $23.98.

EuroDry (NASDAQ:EDRY - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently issued reports on EDRY. Zacks Research upgraded EuroDry from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 13th. 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 research note on Thursday, February 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of EuroDry in a research note on Tuesday. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.50.

EuroDry Stock Down 0.6%

Shares of NASDAQ:EDRY opened at $20.86 on Friday. The stock has a fifty day simple moving average of $19.73 and a two-hundred day simple moving average of $15.41. The stock has a market capitalization of $60.29 million, a price-to-earnings ratio of -13.29 and a beta of 0.89. EuroDry has a 12-month low of $7.60 and a 12-month high of $23.98. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.89.

EuroDry (NASDAQ:EDRY - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.09. The business had revenue of $17.39 million during the quarter, compared to analysts' expectations of $17.77 million. EuroDry had a negative return on equity of 6.83% and a negative net margin of 8.16%. On average, research analysts anticipate that EuroDry will post 2.98 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.