Noble Financial Has Bullish Estimate for EuroDry Q3 Earnings

Key Points

• Noble Financial raised its Q3 2026 EPS estimate for EuroDry to $1.29 from $1.22, while forecasting $1.40 EPS for Q4 and $4.27 for full-year 2026.
• EuroDry’s latest quarter fell short of expectations, reporting $0.12 EPS versus the $0.42 consensus and revenue of $12.79 million compared with estimates of $15.62 million.
• Shares rose 5% to open at $25.51, and analysts’ average rating is “Moderate Buy” with a $23.50 target price; institutional ownership remains limited at 2.44%.

EuroDry (NASDAQ:EDRY - Free Report) - Analysts at Noble Financial upped their Q3 2026 earnings per share estimates for EuroDry in a report released on Thursday, July 30th. Noble Financial analyst M. Reichman now anticipates that the company will post earnings of $1.29 per share for the quarter, up from their prior estimate of $1.22. The consensus estimate for EuroDry's current full-year earnings is $3.87 per share. Noble Financial also issued estimates for EuroDry's Q4 2026 earnings at $1.40 EPS and FY2026 earnings at $4.27 EPS.

EuroDry (NASDAQ:EDRY - Get Free Report) last issued its earnings results on Wednesday, May 20th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.30). EuroDry had a negative return on equity of 0.88% and a negative net margin of 0.55%.The company had revenue of $12.79 million during the quarter, compared to analyst estimates of $15.62 million.

EDRY has been the topic of a number of other reports. Weiss Ratings downgraded shares of EuroDry from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Tuesday, May 26th. Wall Street Zen raised shares of EuroDry from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 3rd. Finally, Zacks Research upgraded shares of EuroDry from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.50.

EuroDry Trading Up 5.0%

Shares of EDRY stock opened at $25.51 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.55 and a debt-to-equity ratio of 0.86. EuroDry has a twelve month low of $10.00 and a twelve month high of $28.00. The company's 50-day moving average price is $23.01 and its 200-day moving average price is $19.98. The stock has a market cap of $73.75 million, a price-to-earnings ratio of -196.23 and a beta of 0.69.

Institutional Investors Weigh In On EuroDry

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC lifted its stake in EuroDry (NASDAQ:EDRY - Free Report) by 53.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 60,347 shares of the company's stock after acquiring an additional 21,047 shares during the quarter. Renaissance Technologies LLC owned 2.09% of EuroDry worth $1,189,000 at the end of the most recent reporting period. 2.44% of the stock is currently owned by institutional investors.

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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