Noble Financial Equities Analysts Reduce Earnings Estimates for EuroDry Ltd. (NASDAQ:EDRY)

EuroDry Ltd. (NASDAQ:EDRY) – Analysts at Noble Financial decreased their Q3 2024 EPS estimates for EuroDry in a research note issued to investors on Monday, August 12th. Noble Financial analyst M. Reichman now anticipates that the company will earn ($0.55) per share for the quarter, down from their previous forecast of $0.67. Noble Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for EuroDry’s current full-year earnings is $1.01 per share. Noble Financial also issued estimates for EuroDry’s Q4 2024 earnings at $1.25 EPS, FY2024 earnings at ($0.65) EPS, Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.42 EPS, Q3 2025 earnings at $1.58 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $5.65 EPS.

EuroDry (NASDAQ:EDRY) last posted its quarterly earnings results on Tuesday, May 21st. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.89). EuroDry had a negative return on equity of 2.88% and a negative net margin of 6.22%. The firm had revenue of $14.43 million during the quarter, compared to analyst estimates of $15.14 million.

EuroDry Stock Performance

Shares of EDRY opened at $20.57 on Wednesday. The firm has a fifty day moving average of $22.77 and a 200-day moving average of $21.79. EuroDry has a 1 year low of $13.86 and a 1 year high of $24.84. The company has a market cap of $58.34 million, a price-to-earnings ratio of -18.04 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 0.89.

Institutional Investors Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC raised its stake in shares of EuroDry Ltd. (NASDAQ:EDRY) by 26.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,917 shares of the company’s stock after purchasing an additional 3,362 shares during the quarter. Linden Thomas Advisory Services LLC owned 0.56% of EuroDry worth $303,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 2.44% of the company’s stock.

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.