DryShips Inc (NASDAQ:DRYS) docks firmly in options yard

Posted by Nathan Alexander August 27, 2013 0 Comment 609 views

There was a great deal of unusual options-trading activity around DryShips Inc (NASDAQ:DRYS) on Monday. ARN reports that stock-investors bought 11,146 call-options on DRYS. This is a rise if 198% in comparison to the normal volume of 3,745 call-options. Numerous analysts have commented on the DryShips stock lately.

Analysts aver

UBS AG analysts set an “outperform” rating on the company’s stock and mentioned that this move was an evaluation-call. Imperial Capital analysts set an “outperform” rating on the stock, on Thursday and Zacks analysts reiterated their “neutral” rating on the stock on 24 June and have set a $2.00 price-target on the stock.

Five equity research-analysts have assigned a “hold” rating on DRYS stock while 3 have assigned a “buy” rating. The average rating on the company is a “hold” and the
average price-target is $2.20.

Earnings report

The company had last released its earnings-data on 7 August. It reported earnings per share of $0.05 in the quarter which topped analysts’ projections of $0.07. The revenue for the quarter came in at $336.10M in comparison to the average analyst estimate of $329.57M. In the same quarter in 2012, the company had posted earnings per share of $0.05. There was no change in the company’s y-o-y quarterly revenue. Analysts are projecting that the company will post an EPS of $0.25 for the current financial year.

In Monday’s trading session DRYS stock rose 7.11%. The opening price of the shares was $2.28 which touched an intraday high of $2.49 and closed at $2.41. More than 17.68M shares were traded on Monday while the average volume of shares traded over 30 days was 7.31 million. The company has a market cap of $973.07 million.

The company

DryShips Inc is a holding-company that is involved in ocean-transportation services of crude oil and dry bulk cargoes, globally. It owns and operates oil tankers and dry-bulk vessels as well as offshore drilling services via its ultra deepwater drilling units.

About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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