-$0.46 Earnings Per Share Expected for EuroDry Ltd (NASDAQ:EDRY) This Quarter

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Analysts expect EuroDry Ltd (NASDAQ:EDRY) to announce earnings of ($0.46) per share for the current quarter, Zacks reports. Zero analysts have issued estimates for EuroDry’s earnings. EuroDry reported earnings per share of $0.62 in the same quarter last year, which suggests a negative year over year growth rate of 174.2%. The company is expected to report its next earnings results on Thursday, November 21st.

On average, analysts expect that EuroDry will report full-year earnings of ($1.53) per share for the current year. For the next year, analysts forecast that the firm will post earnings of ($0.05) per share. Zacks’ EPS averages are a mean average based on a survey of analysts that follow EuroDry.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.65) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.20). EuroDry had a net margin of 4.08% and a return on equity of 3.16%. The company had revenue of $6.19 million during the quarter, compared to analyst estimates of $6.49 million.

EDRY has been the subject of several research analyst reports. ValuEngine raised EuroDry from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Zacks Investment Research raised EuroDry from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Tuesday, August 20th. Maxim Group set a $9.00 price objective on EuroDry and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Noble Financial set a $14.00 price objective on EuroDry and gave the stock a “buy” rating in a research note on Friday, August 16th.

Shares of NASDAQ:EDRY traded down $0.50 during midday trading on Friday, reaching $7.40. The company had a trading volume of 8,848 shares, compared to its average volume of 7,012. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.83 and a current ratio of 0.88. EuroDry has a 1-year low of $6.51 and a 1-year high of $14.50. The firm has a market cap of $17.53 million, a price-to-earnings ratio of 30.83 and a beta of -0.92. The company has a fifty day simple moving average of $7.69 and a two-hundred day simple moving average of $7.70.

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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