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

Related DRYS
Baltic Dry Index Sinks, Shipping Stocks Mixed
Earnings Scheduled For November 5, 2014

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
Oct 2014Imperial CapitalUpgradesUnderperformOutperform
Oct 2014Deutsche BankDowngradesBuyHold
Oct 2014Imperial CapitalDowngradesOutperformUnderperform

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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