DryShips reported earnings of 7 cents a share for the third quarter, beating analysts' estimates of 5 cents a share by 2 cents. Revenue grew 48.7% year over year to $601.95 million for the quarter, beating analysts' estimates of $533.03 million.
Net voyage revenue for the company's drybulk carrier segment grew to $38.5 million for the quarter, up from $37.4 million in the year-ago quarter. Net voyage revenue from the tanker segment grew to $19.2 million from $14.5 million in the year-ago quarter.
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TheStreet Ratings team rates DRYSHIPS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate DRYSHIPS INC (DRYS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself."
You can view the full analysis from the report here: DRYS Ratings Report