Zacks: Brokerages Set $11.25 Price Target for EuroDry Ltd (NASDAQ:EDRY)

EuroDry Ltd (NASDAQ:EDRY) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokers have set a one year consensus price objective of $11.25 for the company and are expecting that the company will post ($0.46) EPS for the current quarter, according to Zacks. Zacks has also given EuroDry an industry rank of 22 out of 255 based on the ratings given to its competitors.

A number of equities research analysts have recently commented on EDRY shares. Noble Financial restated a “buy” rating and set a $13.50 target price on shares of EuroDry in a research report on Thursday, September 26th. Zacks Investment Research cut EuroDry from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. ValuEngine cut EuroDry from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Maxim Group set a $9.00 price target on shares of EuroDry and gave the company a “buy” rating in a research note on Friday, August 9th.

Shares of NASDAQ EDRY traded up $0.70 during trading hours on Thursday, reaching $8.20. The stock had a trading volume of 400 shares, compared to its average volume of 6,178. The business’s fifty day moving average price is $8.03 and its two-hundred day moving average price is $7.72. The firm has a market cap of $18.49 million, a price-to-earnings ratio of 34.17 and a beta of -0.89. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 1.28. EuroDry has a 52-week low of $6.51 and a 52-week high of $13.40.

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EuroDry (NASDAQ:EDRY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.20). The company had revenue of $6.19 million for the quarter, compared to analyst estimates of $6.49 million. EuroDry had a return on equity of 3.16% and a net margin of 4.08%. Equities research analysts anticipate that EuroDry will post -1.53 earnings per share for the current fiscal year.

About EuroDry

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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