DryShips Inc. (DRYS) Earnings Estimates Increased by Goldman Sachs (GS) Analysts
Monday, June 27, 2021 11:08 AM

Equities research analysts at Goldman Sachs (NYSE: GS) raised their earnings per share estimates on shares of DryShips Inc. (NASDAQ: DRYS) in a research note to investors on Monday. The analysts currently have a "buy" rating and a $6.00 price target on the stock.

Separately, analysts at Sterne Agee upgraded shares of DryShips Inc. from a "neutral" rating to a "buy" rating in a research note to investors on Friday, June 17th. Also, analysts at Wells Fargo & Co. (NYSE: WFC) upgraded shares of DryShips Inc. from a "market perform" rating to an "outperform" rating in a research note to investors on Tuesday, June 14th.

Shares of DryShips Inc. traded up 1.52% during mid-day trading on Tuesday, hitting $4.02. DryShips Inc. has a 52 week low of $3.28 and a 52 week high of $6.44. The stock's 50-day moving average is $4.43 and its 200-day moving average is $5.01. The company has a market cap of $1.563 billion and a price-to-earnings ratio of 6.47.

DryShips Inc. last announced its quarterly results on Thursday, May 12nd. The company reported $0.15 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.16 EPS by $0.01. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 6.80% on a year-over-year basis. On average, analysts predict that DryShips Inc. will post $0.22 EPS next quarter.

DryShips Inc. is a holding company. The Company is engaged in the ocean transportation services of drybulk cargoes worldwide through the ownership and operation of the drybulk carrier vessels and deepwater drilling rig services through the ownership of ultra-deep water drilling rigs. As of April 6, 2010, the Company owned, through its subsidiaries, a fleet of 39 drybulk carriers consisted of seven Capesize, 28 Panamax, two Supramax vessels and two Panamax newbuilding vessels, which have a combined deadweight tons of approximately 3.3 million dead weight tons. Its drybulk fleet principally carries a variety of drybulk commodities, including major bulk items, such as coal, iron ore, and grains, and minor bulk items, such as bauxite, phosphate, fertilizers and steel products. The average age of the vessels in its drybulk fleet is 8.3 years. In January 2009, the Company disposed off three Capesize newbuildings.

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