Noble Financial Comments on EuroDry Ltd.’s Q2 2024 Earnings (NASDAQ:EDRY)

EuroDry Ltd. (NASDAQ:EDRY) – Investment analysts at Noble Financial issued their Q2 2024 earnings per share estimates for shares of EuroDry in a research note issued to investors on Monday, July 29th. Noble Financial analyst M. Reichman forecasts that the company will post earnings of $0.58 per share for the quarter. 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 Q3 2024 earnings at $0.67 EPS, Q4 2024 earnings at $0.94 EPS, FY2024 earnings at $1.01 EPS, Q1 2025 earnings at $1.09 EPS, Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.60 EPS and FY2025 earnings at $5.80 EPS.

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

EuroDry Trading Down 1.4 %

EuroDry stock opened at $21.89 on Wednesday. The stock has a market cap of $62.17 million, a PE ratio of -19.20 and a beta of 0.79. The stock has a 50-day moving average price of $22.94 and a 200 day moving average price of $21.78. EuroDry has a 52 week low of $13.86 and a 52 week high of $24.84. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 0.72.

Institutional Trading of EuroDry

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC increased its stake in shares of EuroDry Ltd. (NASDAQ:EDRY) by 26.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 0.56% of EuroDry worth $303,000 as of its most recent filing with the Securities and Exchange Commission. 2.44% of the stock is owned by hedge funds and other institutional investors.

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.