Zacks: EuroDry Ltd (NASDAQ:EDRY) Receives Average Rating of “Strong Buy” from Brokerages
EuroDry Ltd (NASDAQ:EDRY) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Analysts have set a 1 year consensus target price of $11.25 for the company and are forecasting that the company will post ($0.46) EPS for the current quarter, according to Zacks. Zacks has also given EuroDry an industry rank of 101 out of 256 based on the ratings given to its competitors.
A number of equities research analysts have recently commented on the company. Noble Financial set a $14.00 target price on EuroDry and gave the stock a “buy” rating in a research note on Friday, August 16th. ValuEngine upgraded shares of EuroDry from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Maxim Group set a $9.00 price target on shares of EuroDry and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded shares of EuroDry from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a report on Tuesday, August 20th.
EuroDry (NASDAQ:EDRY) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.20). The business had revenue of $6.19 million during the quarter, compared to analysts’ expectations of $6.49 million. EuroDry had a return on equity of 3.16% and a net margin of 4.08%. Analysts forecast that EuroDry will post -1.53 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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