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.
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."