Is DryShips Inc (NASDAQ:DRYS) Still In Danger?

Posted by Ryan Mandell September 30, 2013 0 Comment 1247 views

TheStreet upgraded DryShips Inc (NASDAQ:DRYS) shares from a “sell” to a “hold” rating. The company has shown muscle in different areas. It has had a strong stock-price performance and also expanded its profit-margins. Contradictorily, the company’s net income has been on the decline and its return on equity has been dismal. In its recent quarter, DryShips Inc (NASDAQ:DRYS) reported plateaued earnings per share

Analysts are of the opinion that there will be a turnaround in 2014.

Friday’s trading

In Friday’s trading session, DryShips Inc (NASDAQ:DRYS) dropped by 5.70%. The opening price of the shares was $3.73 which rose to an intraday high of $3.75 and dropped to a close of $3.64. Approximately 19.93 million shares were traded on Friday and the average volume of shares traded over a 30 day period was $19.58 million. The 52-week low of the shares was $1.46 and the 52-week high was $4.00. The company has a market cap of $1.47 billion.

The company

DryShips Inc (NASDAQ:DRYS) is essentially a holding company. It is involved in ocean-transportation services of dry-bulk cargoes and crude-oil across the world. It owns and operates drybulk carrier-vessels, oil-tankers and offshore-drilling services. It also  owns and operates ultra deepwater drilling-units. As of 31 December 2011, it owned as well as operated 2, 5th-generation ultra deepwater, semi-submersible offshore-drilling rigs, called Eirik Raude and  Leiv Eiriksson.

It also owned 4, 6th-generation, advanced-capability ultra deepwater drill-ships, the Ocean Rig Olympia, the Ocean Rig Poseidon, the Ocean Rig Corcovado and the Ocean Rig Mykonos. As of 31 December 2011, it owned & operated 4 Aframax tankers- Saga, Calida, Daytona and  Belmar and Vilamoura, 1 Suezmax tanker. On 24 August 2011, the company bought all the OceanFreight Inc shares. In 2013 January it sold 2 of its tankers, Esperona and Blanca that were under construction at the Samsung Heavy Industries.

About Ryan Mandell

Ryan Mandell is our senior staff writer covering the White House for Political Report, Ryan also coordinates with the main newsroom news items and contributing write-ups on cultural, social and political activities. Ryan holds an undergraduate degree in journalism, a Doctorate in international relations and a Master Degree in mass communications with an emphasis in print journalism. Ryan also covered the International Society of Social Defense congress in Spain in 2007 and taken part in the Global Forum on economic policies

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