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

EuroDry Ltd. (NASDAQ:EDRY) – Noble Financial cut their Q3 2024 earnings per share (EPS) estimates for EuroDry in a report issued on Wednesday, May 22nd. Noble Financial analyst M. Heim now forecasts that the company will post earnings of $0.83 per share for the quarter, down from their prior estimate of $0.87. The consensus estimate for EuroDry’s current full-year earnings is $2.15 per share. Noble Financial also issued estimates for EuroDry’s Q1 2025 earnings at $1.67 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.30 EPS, Q4 2025 earnings at $2.27 EPS and FY2025 earnings at $8.37 EPS.

EuroDry Stock Down 2.2 %

EDRY opened at $21.55 on Thursday. The business has a 50 day moving average of $21.00 and a 200-day moving average of $20.14. The stock has a market capitalization of $61.20 million, a price-to-earnings ratio of -20.72 and a beta of 0.74. The company has a current ratio of 0.95, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. EuroDry has a 1-year low of $13.42 and a 1-year high of $23.98.

Institutional Trading of EuroDry

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC boosted its holdings in EuroDry Ltd. (NASDAQ:EDRY) by 26.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,917 shares of the company’s stock after acquiring an additional 3,362 shares during the quarter. Linden Thomas Advisory Services LLC owned 0.56% of EuroDry worth $303,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.44% of the company’s stock.

EuroDry Company Profile

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.