DryShips Coverage Initiated by Analysts at Imperial Capital (DRYS)
Equities research analysts at Imperial Capital started coverage on shares of DryShips (NASDAQ:DRYS) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $2.75 price target on the stock. Imperial Capital’s price target would indicate a potential upside of 34.15% from the company’s current price.
The analysts wrote, “We are initiating coverage on shares of DRYS with an Outperform rating and a one-year price target of $2.75. We see potential 34% upside to our $2.75 price target driven by potentially significant price appreciation of ORIG equity to our estimated valuation range of $21-31 per share on the commencement of a dividend program and/or formation of an MLP, and the subsequent removal of the ‘overhang’ related to investors’ concerns about DRYS near-term maturities and overall liquidity levels through a likely successful exchange offer and amend and extend of the company’s credit facilities.”
Separately, analysts at Zacks reiterated a “neutral” rating on shares of DryShips in a research note to investors on Monday, June 24th. They now have a $2.00 price target on the stock.
Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $2.20.
Shares of DryShips (NASDAQ:DRYS) traded up 6.10% on Thursday, hitting $2.175. The stock had a trading volume of 11,793,308 shares. DryShips has a one year low of $1.46 and a one year high of $2.74. The stock has a 50-day moving average of $1.97 and a 200-day moving average of $1.93. The company’s market cap is $878.2 million.
DryShips (NASDAQ:DRYS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.07) by $0.02. The company had revenue of $336.10 million for the quarter, compared to the consensus estimate of $329.57 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Analysts expect that DryShips will post $-0.25 EPS for the current fiscal year.
DryShips Inc (NASDAQ:DRYS) is a holding company.
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