Equities analysts forecast that Ardmore Shipping Corp (NYSE:ASC) will announce ($0.20) earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Ardmore Shipping’s earnings, with the highest EPS estimate coming in at $0.04 and the lowest estimate coming in at ($0.31). Ardmore Shipping reported earnings per share of ($0.12) in the same quarter last year, which would indicate a negative year-over-year growth rate of 66.7%. The business is scheduled to announce its next earnings results on Wednesday, February 6th.
According to Zacks, analysts expect that Ardmore Shipping will report full-year earnings of ($0.95) per share for the current fiscal year, with EPS estimates ranging from ($1.09) to ($0.67). For the next fiscal year, analysts anticipate that the business will report earnings of $0.08 per share, with EPS estimates ranging from ($0.60) to $0.79. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last announced its earnings results on Wednesday, November 7th. The shipping company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.04). The business had revenue of $48.90 million during the quarter, compared to the consensus estimate of $25.84 million. Ardmore Shipping had a negative return on equity of 7.77% and a negative net margin of 14.94%. Ardmore Shipping’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) earnings per share.
Several brokerages have recently commented on ASC. Fearnley Fonds upgraded Ardmore Shipping from a “reduce” rating to a “buy” rating and increased their price objective for the company from $6.70 to $9.30 in a research report on Tuesday, September 25th. Morgan Stanley reduced their price objective on Ardmore Shipping from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 1st. Zacks Investment Research upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, ValuEngine lowered Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $10.22.
Shares of Ardmore Shipping stock opened at $7.20 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.23 and a current ratio of 1.42. The stock has a market cap of $234.99 million, a PE ratio of -19.46 and a beta of 0.75. Ardmore Shipping has a 12 month low of $6.18 and a 12 month high of $9.00.
Several institutional investors have recently made changes to their positions in ASC. Schwab Charles Investment Management Inc. increased its position in shares of Ardmore Shipping by 26.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 58,600 shares of the shipping company’s stock valued at $446,000 after purchasing an additional 12,100 shares during the last quarter. Northern Trust Corp boosted its holdings in Ardmore Shipping by 1.5% during the 1st quarter. Northern Trust Corp now owns 878,622 shares of the shipping company’s stock valued at $6,677,000 after acquiring an additional 12,587 shares during the period. BlackRock Inc. boosted its holdings in Ardmore Shipping by 5.1% during the 1st quarter. BlackRock Inc. now owns 1,358,868 shares of the shipping company’s stock valued at $10,327,000 after acquiring an additional 66,213 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ardmore Shipping by 23.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,003,027 shares of the shipping company’s stock valued at $7,623,000 after acquiring an additional 191,155 shares during the period. Finally, A.R.T. Advisors LLC purchased a new stake in Ardmore Shipping during the 1st quarter valued at about $117,000. Hedge funds and other institutional investors own 89.27% of the company’s stock.
Ardmore Shipping Company Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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