UBS AG Initiates Coverage on DryShips (DRYS)
Stock analysts at UBS AG began coverage on shares of DryShips (NASDAQ:DRYS) in a report issued on Thursday, Analyst Ratings Network reports. The firm set an “outperform” rating on the stock. The analysts noted that the move was a valuation call.
Shares of DryShips (NASDAQ:DRYS) traded up 7.11% on Thursday, hitting $2.41. 17,670,116 shares of the company’s stock traded hands. DryShips has a 52-week low of $1.46 and a 52-week high of $2.74. The stock’s 50-day moving average is $1.98 and its 200-day moving average is $1.94. The company’s market cap is $973.1 million. DryShips also was the target of unusually large options trading activity on Friday. Stock traders purchased 9,789 call options on the stock. This is an increase of 196% compared to the typical daily volume of 3,304 call options.
DryShips (NASDAQ:DRYS) last released its earnings data on Wednesday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the 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 last year, the company posted ($0.05) earnings per share. DryShips’s revenue was up .0% compared to the same quarter last year. Analysts expect that DryShips will post $-0.25 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on DRYS. Analysts at Imperial Capital initiated coverage on shares of DryShips in a research note to investors on Thursday. They set an “outperform” rating and a $2.75 price target on the stock. 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. DryShips presently has an average rating of “Hold” and a consensus target price of $2.20.
DryShips Inc (NASDAQ:DRYS) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.