EuroDry (NASDAQ:EDRY) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of EuroDry (NASDAQ:EDRY) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. The firm currently has $8.25 target price on the stock.

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. “

Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of EuroDry from a sell rating to a hold rating in a research note on Tuesday, July 2nd. Noble Financial set a $14.00 price objective on shares of EuroDry and gave the company a buy rating in a research note on Friday, August 16th. Finally, Maxim Group set a $9.00 price objective on shares of EuroDry and gave the company a buy rating in a research note on Friday, August 9th.

EuroDry stock opened at $7.50 on Tuesday. The firm has a market cap of $17.01 million, a PE ratio of 106.57 and a beta of -0.95. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.83 and a current ratio of 0.88. The firm’s 50 day moving average price is $7.79 and its two-hundred day moving average price is $7.70. EuroDry has a twelve month low of $6.51 and a twelve month high of $14.50.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings data on Thursday, May 23rd. The company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.48. The firm had revenue of $5.79 million for the quarter, compared to analyst estimates of $5.92 million. EuroDry had a net margin of 4.08% and a return on equity of 3.16%. Equities analysts anticipate that EuroDry will post -1.53 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.

Further Reading: What is the significance of the death cross?

Get a free copy of the Zacks research report on EuroDry (EDRY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for EuroDry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EuroDry and related companies with MarketBeat.com's FREE daily email newsletter.