Jefferies Maintains a 'Hold' on DryShips (DRYS); Dry Bulk Shipping Outlook Improving Despite N-T Weakness
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Price: $5.24 --0%
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Hold' on DryShips (NASDAQ: DRYS) price target raised from $2.50 to $3.00.
Analyst, Douglas J. Marvinac, said, "Yesterday after the market close, DryShips reported 4Q11 EPS of $0.07 per share, excluding one-time items, which was in line with Street consensus of $0.07 and better than our estimate of a breakeven quarter primarily due to higher than expected utilization in the Company's drilling segment...While we are reducing our 1Q12 EPS estimate slightly to adjust for increased mobilization time in DryShips' drilling segment, the 1Q12 reduction does not affect our overall 2012 EPS estimate as increased drilling day rate expectations for the year offset the reduction as well as the sale of two 2004-built Panamax dry bulk carriers that were operating on above market time charter contracts. For 2013, we are maintaining our EPS estimate as our fundamental outlook is unchanged."
For an analyst ratings summary and ratings history on DryShips click here. For more ratings news on DryShips click here.
Shares of DryShips closed at $3.60 yesterday.
Analyst, Douglas J. Marvinac, said, "Yesterday after the market close, DryShips reported 4Q11 EPS of $0.07 per share, excluding one-time items, which was in line with Street consensus of $0.07 and better than our estimate of a breakeven quarter primarily due to higher than expected utilization in the Company's drilling segment...While we are reducing our 1Q12 EPS estimate slightly to adjust for increased mobilization time in DryShips' drilling segment, the 1Q12 reduction does not affect our overall 2012 EPS estimate as increased drilling day rate expectations for the year offset the reduction as well as the sale of two 2004-built Panamax dry bulk carriers that were operating on above market time charter contracts. For 2013, we are maintaining our EPS estimate as our fundamental outlook is unchanged."
For an analyst ratings summary and ratings history on DryShips click here. For more ratings news on DryShips click here.
Shares of DryShips closed at $3.60 yesterday.
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