EuroDry (NASDAQ:EDRY) Downgraded to “Sell” at ValuEngine

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EuroDry (NASDAQ:EDRY) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, ValuEngine reports.

EDRY has been the topic of several other reports. Noble Financial reissued a “buy” rating and set a $13.50 target price on shares of EuroDry in a research note on Friday, March 1st. Zacks Investment Research raised shares of EuroDry from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Maxim Group reissued a “buy” rating and set a $11.00 target price on shares of EuroDry in a research note on Thursday, May 23rd.

EDRY traded down $0.42 during midday trading on Wednesday, hitting $6.76. 1,500 shares of the company were exchanged, compared to its average volume of 9,558. The company has a market capitalization of $16.37 million and a P/E ratio of 28.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.55 and a current ratio of 1.60. EuroDry has a 1-year low of $6.08 and a 1-year high of $14.50.

EuroDry (NASDAQ:EDRY) last announced its quarterly earnings results on Thursday, May 23rd. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.48. EuroDry had a return on equity of 5.86% and a net margin of 12.94%. The company had revenue of $5.79 million for the quarter, compared to the consensus estimate of $5.92 million. Analysts forecast that EuroDry will post -1.75 EPS 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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