DryShips (DRYS) Stock Closes Trading Up Following Third Quarter Earnings Beat

NEW YORK (TheStreet) -- DryShips (DRYS) shares closed trading up 2.74% to $1.50 on heavy volume on Thursday, continuing to gain following the release of its earnings results after yesterday's closing bell.

The Greek shipping company reported third quarter earnings of $16.7 million, or 9 cents per diluted share on an adjusted basis, ahead of analysts' 5 cents per share profit expectations.

The company generated $602 million in revenue during the period, ahead of the $404 million it reported during the same period last year and significantly ahead of the $558 million analysts were expecting for the quarter.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

DRYS Chart DRYS data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

This Will Be the Ultimate Buy (or Sell) Signal for Stocks

This Will Be the Ultimate Buy (or Sell) Signal for Stocks

Shares of Square Slip After Venmo Debit Card Announcement

Shares of Square Slip After Venmo Debit Card Announcement

3 Fierce Chinese Tech Stocks to Gamble on Right Now

3 Fierce Chinese Tech Stocks to Gamble on Right Now

Stocks Slammed on Latest Trump Tariff Fears

Stocks Slammed on Latest Trump Tariff Fears

Boeing Slides as China Premier Li Says Willing to Continue Talks With Airbus

Boeing Slides as China Premier Li Says Willing to Continue Talks With Airbus