Brokerages expect Ardmore Shipping (NYSE:ASC) to report ($0.10) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Ardmore Shipping’s earnings. The lowest EPS estimate is ($0.16) and the highest is ($0.03). Ardmore Shipping reported earnings of ($0.06) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 66.7%. The firm is scheduled to report its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Ardmore Shipping will report full-year earnings of $0.10 per share for the current financial year, with EPS estimates ranging from ($0.14) to $0.33. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.91 per share, with EPS estimates ranging from $0.27 to $1.35. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Wednesday, February 7th. The shipping company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.03. Ardmore Shipping had a negative net margin of 6.37% and a negative return on equity of 3.16%. The business had revenue of $30.23 million for the quarter, compared to analyst estimates of $30.24 million. During the same quarter in the prior year, the business earned ($0.11) EPS. Ardmore Shipping’s quarterly revenue was up 1.4% on a year-over-year basis.
A number of research analysts recently commented on ASC shares. Stifel Nicolaus set a $9.00 price target on shares of Ardmore Shipping and gave the company a “buy” rating in a research note on Wednesday, January 24th. Seaport Global Securities set a $12.00 price target on shares of Ardmore Shipping and gave the company a “buy” rating in a research note on Thursday, January 4th. Jefferies Group started coverage on shares of Ardmore Shipping in a research note on Monday, December 18th. They issued a “buy” rating and a $11.00 price target on the stock. Zacks Investment Research lowered shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase upped their price target on shares of Ardmore Shipping from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, March 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $10.42.
Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in shares of Ardmore Shipping by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock worth $255,000 after purchasing an additional 1,306 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Ardmore Shipping by 16.7% during the 2nd quarter. Vanguard Group Inc. now owns 88,479 shares of the shipping company’s stock worth $721,000 after purchasing an additional 12,631 shares in the last quarter. Silver Rock Financial LP grew its position in shares of Ardmore Shipping by 3.5% during the 4th quarter. Silver Rock Financial LP now owns 744,570 shares of the shipping company’s stock worth $5,957,000 after purchasing an additional 25,206 shares in the last quarter. Two Sigma Securities LLC acquired a new position in shares of Ardmore Shipping during the 4th quarter worth approximately $203,000. Finally, Essex Investment Management Co. LLC grew its position in shares of Ardmore Shipping by 24.8% during the 4th quarter. Essex Investment Management Co. LLC now owns 163,109 shares of the shipping company’s stock worth $1,305,000 after purchasing an additional 32,448 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
ASC traded up $0.37 on Friday, reaching $8.02. The company had a trading volume of 281,136 shares, compared to its average volume of 228,183. Ardmore Shipping has a fifty-two week low of $6.40 and a fifty-two week high of $9.05. The firm has a market cap of $255.18, a P/E ratio of -20.68 and a beta of 0.95. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.27 and a current ratio of 1.44.
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About Ardmore Shipping
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals through product and chemical tankers worldwide. As of December 31, 2016, the company operated 27 vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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