EuroDry (NASDAQ:EDRY) Downgraded by Zacks Investment Research to “Hold”

EuroDry (NASDAQ:EDRY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “EuroDry Ltd. is an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes. EuroDry Ltd. is based in Marousi, Greece. “

EDRY has been the topic of several other research reports. Maxim Group reiterated a “buy” rating and set a $11.00 price target on shares of EuroDry in a research report on Thursday, May 23rd. Noble Financial reiterated a “buy” rating on shares of EuroDry in a research report on Monday, July 29th. Finally, ValuEngine upgraded shares of EuroDry from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd.

NASDAQ EDRY traded down $0.38 on Friday, hitting $7.10. 4,000 shares of the company were exchanged, compared to its average volume of 7,633. The firm’s 50 day simple moving average is $7.77. The company has a market cap of $17.99 million, a P/E ratio of 29.58 and a beta of -0.95. The company has a current ratio of 1.60, a quick ratio of 1.55 and a debt-to-equity ratio of 1.24. EuroDry has a 1-year low of $6.15 and a 1-year high of $14.50.

EuroDry (NASDAQ:EDRY) last issued its quarterly earnings results on Thursday, May 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.48. The business had revenue of $5.79 million for the quarter, compared to the consensus estimate of $5.92 million. EuroDry had a net margin of 12.94% and a return on equity of 5.86%. On average, analysts expect that EuroDry will post -1.75 EPS for the current fiscal 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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