EuroDry (EDRY) Set to Announce Earnings on Thursday

EuroDry (NASDAQ:EDRY) is set to announce its earnings results before the market opens on Thursday, August 8th. Analysts expect the company to announce earnings of $0.58 per share for the quarter.

EuroDry (NASDAQ:EDRY) last announced its quarterly earnings results on Tuesday, May 21st. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.89). The company had revenue of $14.43 million during the quarter, compared to analysts’ expectations of $15.14 million. EuroDry had a negative net margin of 6.22% and a negative return on equity of 2.88%. On average, analysts expect EuroDry to post $1 EPS for the current fiscal year and $6 EPS for the next fiscal year.

EuroDry Price Performance

EDRY traded up $0.79 during trading on Tuesday, reaching $21.00. 11,849 shares of the company were exchanged, compared to its average volume of 10,496. EuroDry has a 12-month low of $13.86 and a 12-month high of $24.84. The company’s 50-day moving average is $22.90 and its two-hundred day moving average is $21.80. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.72. The company has a market cap of $59.64 million, a price-to-earnings ratio of -18.37 and a beta of 0.79.

Analysts Set New Price Targets

Separately, Noble Financial raised shares of EuroDry to a “strong-buy” rating in a report on Monday, July 29th.

About EuroDry

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. It owns and operates a fleet of drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. The company fleet consisted of 13 drybulk carriers comprising five Panamax drybulk carriers, two Kamsarmax, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 918,502 dwt.