EuroDry (NASDAQ:EDRY) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded EuroDry (NASDAQ:EDRY) from a "buy" to a "strong-buy" rating in a report issued Sunday.
• Analyst views are mixed—Noble raised to "outperform" (target $23.50), Zacks cut to "hold" and Weiss reaffirmed "sell"—leaving a MarketBeat consensus of "Hold" with a $23.50 consensus price target.
• Shares opened at $20.27 with a market cap of about $58.6M and a 52-week range of $7.60–$23.98; the company beat EPS estimates ($0.87 vs. $0.78) but still reports a negative net margin (−8.16%) and negative ROE (−6.83%).

EuroDry (NASDAQ:EDRY - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Sunday.

Other analysts have also recently issued research reports about the stock. Noble Financial raised shares of EuroDry from a "market perform" rating to an "outperform" rating and set a $23.50 target price for the company in a research note on Thursday, February 12th. Zacks Research cut shares of EuroDry from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of EuroDry in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.50.

EuroDry Stock Performance

Shares of EDRY stock opened at $20.27 on Friday. The firm has a market cap of $58.58 million, a price-to-earnings ratio of -12.91 and a beta of 0.65. The company's 50 day moving average is $20.07 and its 200 day moving average is $15.62. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 0.89. EuroDry has a 52-week low of $7.60 and a 52-week high of $23.98.

EuroDry (NASDAQ:EDRY - Get Free Report) last released its earnings results on Thursday, February 19th. The company reported $0.87 EPS for the quarter, topping 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 net margin of 8.16% and a negative return on equity of 6.83%. On average, sell-side analysts anticipate that EuroDry will post 2.98 EPS 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.

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