EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide.
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Price History & Performance
|Historical stock prices|
|Current Share Price||US$31.00|
|52 Week High||US$3.70|
|52 Week Low||US$34.65|
|1 Month Change||-4.29%|
|3 Month Change||27.63%|
|1 Year Change||656.10%|
|3 Year Change||163.83%|
|5 Year Change||n/a|
|Change since IPO||310.60%|
Recent News & Updates
EuroDry: Forgotten And Undervalued
The dry bulk carrier industry continues to delight investors with the promise of even better returns in the coming quarters. The recent 6% dip of EDRY seems to be unexplained and not justified by any public information. The company is stronger than ever financially, having high operating leverage to capitalize on the current high rates. However, this leverage also increases operational risks if the shipping euphoria ends ahead of time. The fundamental valuation of the company speaks of its attractiveness, so I recommend buying the recent dip and holding at least for the short- or medium-term.
|EDRY||US Shipping||US Market|
Return vs Industry: EDRY exceeded the US Shipping industry which returned 108.3% over the past year.
Return vs Market: EDRY exceeded the US Market which returned 30% over the past year.
Stable Share Price: EDRY is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 11% a week.
Volatility Over Time: EDRY's weekly volatility has decreased from 17% to 11% over the past year, but is still higher than 75% of US stocks.
About the Company
EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. As of March 31, 2021, it operated a fleet of seven drybulk carriers comprising four Panamax drybulk carriers, one Ultramax drybulk carrier, and two Kamsarmax carriers with a cargo capacity of 528,931 deadweight tons.
EuroDry Fundamentals Summary
|EDRY fundamental statistics|
Is EDRY overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|EDRY income statement (TTM)|
|Cost of Revenue||US$12.11m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.64|
|Net Profit Margin||5.04%|
How did EDRY perform over the long term?See historical performance and comparison
Is EuroDry undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: EDRY ($31) is trading below our estimate of fair value ($67.91)
Significantly Below Fair Value: EDRY is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: EDRY is poor value based on its PE Ratio (48.8x) compared to the US Shipping industry average (10.8x).
PE vs Market: EDRY is poor value based on its PE Ratio (48.8x) compared to the US market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: EDRY's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: EDRY is overvalued based on its PB Ratio (2x) compared to the US Shipping industry average (1.1x).
How is EuroDry forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: EDRY's earnings are forecast to decline over the next 3 years (-5.3% per year).
Earnings vs Market: EDRY's earnings are forecast to decline over the next 3 years (-5.3% per year).
High Growth Earnings: EDRY's earnings are forecast to decline over the next 3 years.
Revenue vs Market: EDRY's revenue is expected to decline over the next 3 years (-5.9% per year).
High Growth Revenue: EDRY's revenue is forecast to decline over the next 3 years (-5.9% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: EDRY's Return on Equity is forecast to be high in 3 years time (26.6%)
How has EuroDry performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: EDRY has a large one-off loss of $1.6M impacting its June 30 2021 financial results.
Growing Profit Margin: EDRY became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: EDRY has become profitable over the past 5 years, growing earnings by -12.3% per year.
Accelerating Growth: EDRY has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: EDRY has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (359.5%).
Return on Equity
High ROE: EDRY's Return on Equity (5.7%) is considered low.
How is EuroDry's financial position?
Financial Position Analysis
Short Term Liabilities: EDRY's short term assets ($18.0M) do not cover its short term liabilities ($22.5M).
Long Term Liabilities: EDRY's short term assets ($18.0M) do not cover its long term liabilities ($47.4M).
Debt to Equity History and Analysis
Debt Level: EDRY's debt to equity ratio (106.8%) is considered high.
Reducing Debt: Insufficient data to determine if EDRY's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: EDRY's debt is well covered by operating cash flow (20.2%).
Interest Coverage: EDRY's interest payments on its debt are well covered by EBIT (6.1x coverage).
What is EuroDry current dividend yield, its reliability and sustainability?
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate EDRY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate EDRY's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if EDRY's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if EDRY's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of EDRY's dividend in 3 years as they are not forecast to pay a notable one for the US market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Aristides Pittas (61 yo)
Mr. Aristides J. Pittas has been the Chairman and Chief Executive Officer at Euroseas, Ltd. since May 5, 2005 and serves as its President. Mr. Pittas has been the President of Eurochart S.A., since 1997.H...
Experienced Management: EDRY's management team is considered experienced (3.4 years average tenure).
Experienced Board: EDRY's board of directors are considered experienced (3.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 23.4%.
EuroDry Ltd.'s employee growth, exchange listings and data sources
- Name: EuroDry Ltd.
- Ticker: EDRY
- Exchange: NasdaqCM
- Founded: 2018
- Industry: Marine
- Sector: Transportation
- Market Cap: US$88.173m
- Shares outstanding: 2.84m
- Website: https://www.eurodry.gr
- EuroDry Ltd.
- 4 Messogiou & Evropis Street
- 151 24
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/19 23:52|
|End of Day Share Price||2021/10/19 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.