EuroDry Ltd (NASDAQ:EDRY) Given Average Rating of “Strong Buy” by Brokerages

EuroDry Ltd (NASDAQ:EDRY) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus target price of $8.75 for the company and are forecasting that the company will post ($1.03) EPS for the current quarter, according to Zacks. Zacks has also given EuroDry an industry rank of 174 out of 254 based on the ratings given to related companies.

Several equities analysts have recently weighed in on EDRY shares. Zacks Investment Research cut EuroDry from a “buy” rating to a “hold” rating in a research report on Friday, March 13th. Noble Financial reiterated a “buy” rating and issued a $10.00 price target on shares of EuroDry in a research report on Tuesday, May 19th. Maxim Group reiterated a “buy” rating and issued a $7.50 price target on shares of EuroDry in a research report on Thursday, May 21st. Finally, ValuEngine upgraded EuroDry from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd.

NASDAQ:EDRY traded down $0.20 during trading hours on Friday, reaching $3.53. The stock had a trading volume of 5,613 shares, compared to its average volume of 54,438. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.54 and a current ratio of 0.60. The stock has a 50 day simple moving average of $3.87 and a 200 day simple moving average of $5.50. EuroDry has a 12-month low of $2.98 and a 12-month high of $8.69.

EuroDry (NASDAQ:EDRY) last released its earnings results on Monday, May 18th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.47). The firm had revenue of $5.07 million during the quarter. EuroDry had a negative return on equity of 3.24% and a negative net margin of 11.85%. On average, analysts expect that EuroDry will post -3.14 earnings per share for the current year.

EuroDry Company Profile

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks comprising bauxite, phosphate, and fertilizers. As of November 15, 2018, it operated a fleet of six vessels, including one Ultramax, two Kamsarmax, and three Panamax drybulk carriers with a cargo capacity of 453,086 deadweight tons.

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