Noble Financial Has Bearish Estimate for EuroDry Q3 Earnings

EuroDry Ltd. (NASDAQ:EDRY) – Noble Financial lowered their Q3 2024 earnings per share estimates for EuroDry in a research report issued on Wednesday, October 23rd. Noble Financial analyst M. Reichman now forecasts that the company will post earnings per share of ($0.70) for the quarter, down from their prior estimate of ($0.55). Noble Financial has a “Strong-Buy” rating on the stock. The consensus estimate for EuroDry’s current full-year earnings is ($0.65) per share. Noble Financial also issued estimates for EuroDry’s Q4 2024 earnings at $1.20 EPS, FY2024 earnings at ($0.85) EPS, Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $1.51 EPS and FY2025 earnings at $5.69 EPS.

EuroDry Stock Down 0.3 %

EDRY stock opened at $19.01 on Friday. EuroDry has a twelve month low of $14.46 and a twelve month high of $24.84. The company has a quick ratio of 0.84, a current ratio of 0.98 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average is $20.20 and its 200-day moving average is $21.33. The firm has a market capitalization of $53.91 million, a PE ratio of -16.68 and a beta of 0.78.

EuroDry (NASDAQ:EDRY) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.75). EuroDry had a negative net margin of 4.11% and a negative return on equity of 2.08%. The firm had revenue of $17.44 million during the quarter, compared to analyst estimates of $17.89 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC increased its holdings in shares of EuroDry Ltd. (NASDAQ:EDRY) by 9.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,570 shares of the company’s stock after acquiring an additional 1,944 shares during the quarter. Linden Thomas Advisory Services LLC owned approximately 0.76% of EuroDry worth $530,000 as of its most recent SEC filing. 2.44% of the stock is currently owned by institutional investors and hedge funds.

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.