Ardmore Shipping Corp (ASC) Expected to Announce Earnings of -$0.13 Per Share

Wall Street analysts predict that Ardmore Shipping Corp (NYSE:ASC) will report earnings per share of ($0.13) for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Ardmore Shipping’s earnings, with the lowest EPS estimate coming in at ($0.25) and the highest estimate coming in at $0.07. Ardmore Shipping posted earnings per share of ($0.11) in the same quarter last year, which would suggest a negative year-over-year growth rate of 18.2%. The firm is scheduled to report its next earnings report on Tuesday, February 6th.

According to Zacks, analysts expect that Ardmore Shipping will report full year earnings of ($0.38) per share for the current financial year, with EPS estimates ranging from ($0.50) to ($0.19). For the next financial year, analysts expect that the company will post earnings of $0.30 per share, with EPS estimates ranging from $0.05 to $0.97. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Wednesday, November 1st. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $48.70 million for the quarter, compared to the consensus estimate of $29.99 million. Ardmore Shipping had a negative net margin of 6.45% and a negative return on equity of 3.08%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share.

Several brokerages recently issued reports on ASC. Jefferies Group reissued a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping in a research note on Monday, October 16th. Zacks Investment Research raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Tuesday, October 3rd. Stifel Nicolaus set a $10.00 price objective on shares of Ardmore Shipping and gave the company a “buy” rating in a research note on Sunday, October 29th. Morgan Stanley increased their price target on shares of Ardmore Shipping from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Seaport Global Securities set a $12.00 price target on shares of Ardmore Shipping and gave the stock a “buy” rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Ardmore Shipping currently has a consensus rating of “Hold” and an average price target of $10.33.

Ardmore Shipping (NYSE ASC) opened at $7.45 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.41 and a current ratio of 1.57. The stock has a market cap of $246.78, a P/E ratio of -20.13, a P/E/G ratio of 2.45 and a beta of 1.31. Ardmore Shipping has a one year low of $6.60 and a one year high of $9.05.

A number of large investors have recently bought and sold shares of the business. Royce & Associates LP raised its stake in Ardmore Shipping by 13.5% during the third quarter. Royce & Associates LP now owns 1,945,525 shares of the shipping company’s stock worth $16,051,000 after purchasing an additional 231,950 shares during the period. Boston Partners raised its stake in Ardmore Shipping by 22.4% during the third quarter. Boston Partners now owns 1,045,468 shares of the shipping company’s stock worth $8,626,000 after purchasing an additional 191,270 shares during the period. Northern Trust Corp raised its stake in Ardmore Shipping by 88.7% during the second quarter. Northern Trust Corp now owns 919,286 shares of the shipping company’s stock worth $7,492,000 after purchasing an additional 432,042 shares during the period. Signia Capital Management LLC raised its stake in Ardmore Shipping by 2.3% during the third quarter. Signia Capital Management LLC now owns 783,346 shares of the shipping company’s stock worth $6,462,000 after purchasing an additional 17,575 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Ardmore Shipping by 46.7% during the third quarter. Dimensional Fund Advisors LP now owns 706,866 shares of the shipping company’s stock worth $5,832,000 after purchasing an additional 224,920 shares during the period. 75.68% of the stock is currently owned by institutional investors.

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About Ardmore Shipping

Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.

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