DryShips Stock Rating Lowered by Nordea Equity Research (DRYS)
DryShips (NASDAQ:DRYS) was downgraded by equities research analysts at Nordea Equity Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Analyst Ratings Network reports.
Shares of DryShips (NASDAQ:DRYS) traded up 1.53% during mid-day trading on Thursday, hitting $3.99. The stock had a trading volume of 9,922,398 shares. DryShips has a one year low of $1.46 and a one year high of $3.99. The stock has a 50-day moving average of $2.6 and a 200-day moving average of $2.07. The company’s market cap is $1.611 billion. DryShips also saw unusually large options trading activity on Wednesday. Investors bought 7,465 put options on the company. This represents an increase of approximately 151% compared to the average daily volume of 2,977 put options.
DryShips (NASDAQ:DRYS) last announced its earnings results 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 in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts predict that DryShips will post $-0.25 earnings per share for the current fiscal year.
A number of other firms have also recently commented on DRYS. Analysts at Zacks reiterated a “neutral” rating on shares of DryShips (NASDAQ:DRYS) in a research note to investors on Friday, September 6th. They now have a $3.00 price target on the stock. Separately, analysts at UBS AG initiated coverage on shares of DryShips (NASDAQ:DRYS) in a research note to investors on Thursday, August 22nd. They set an “outperform” rating on the stock. They noted that the move was a valuation call. Finally, analysts at Imperial Capital initiated coverage on shares of DryShips (NASDAQ:DRYS) in a research note to investors on Thursday, August 22nd. They set an “outperform” rating and a $2.75 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. DryShips presently has a consensus rating of “Hold” and a consensus target price of $2.44.
DryShips Inc (NASDAQ:DRYS) is a holding company.
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