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UPDATE: Global Hunter Securities Downgrades DryShips to Neutral on Weak Dry Bulk Earnings

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Global Hunter Securities lowered its rating on DryShips (NASDAQ: DRYS) from Buy to Neutral and removed its previous $5 price target.

Global Hunter Securities noted, "DryShips, Inc. (DRYS) reported Q3 results below both our expectations and consensus as ORIG incurred significant drilling rig expenses. Furthermore, as legacy dry bulk charters expire, we believe earnings in this segment could become more of a drag going forward. Therefore we downgrade our rating to Neutral (from Buy) and remove our price target (from $5)."

DryShips closed at $1.67 on Thursday.

Latest Ratings for DRYS

DateFirmActionFromTo
Sep 2014Clarkson CapitalInitiates Coverage onHold
Sep 2014Deutsche BankInitiates Coverage onBuy
Jan 2014NordeaUpgradesBuyStrong Buy

View More Analyst Ratings for DRYS
View the Latest Analyst Ratings

Posted-In: Global Hunter SecuritiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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