FY2024 EPS Estimates for EuroDry Cut by Noble Financial

EuroDry Ltd. (NASDAQ:EDRY) – Stock analysts at Noble Financial decreased their FY2024 earnings estimates for shares of EuroDry in a research report issued to clients and investors on Wednesday, November 20th. Noble Financial analyst M. Reichman now forecasts that the company will post earnings of ($2.46) per share for the year, down from their prior estimate of ($0.85). Noble Financial has a “Strong-Buy” rating on the stock. The consensus estimate for EuroDry’s current full-year earnings is ($0.85) per share. Noble Financial also issued estimates for EuroDry’s Q4 2024 earnings at $0.31 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.89 EPS, Q4 2025 earnings at $1.10 EPS and FY2025 earnings at $3.28 EPS.

EuroDry Stock Performance

EDRY stock opened at $14.41 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.98 and a quick ratio of 0.84. EuroDry has a 1 year low of $11.09 and a 1 year high of $24.84. The company has a market cap of $40.93 million, a P/E ratio of -6.55 and a beta of 0.80. The stock’s fifty day moving average price is $18.54 and its 200-day moving average price is $20.75.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC lifted its holdings in EuroDry Ltd. (NASDAQ:EDRY) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,100 shares of the company’s stock after purchasing an additional 900 shares during the period. Renaissance Technologies LLC owned about 1.94% of EuroDry worth $1,353,000 at the end of the most recent reporting period. 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.