Analysts Expect Ardmore Shipping Corp (ASC) to Post -$0.20 EPS

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.

Recommended Story: How dollar cost averaging works

Get a free copy of the Zacks research report on Ardmore Shipping (ASC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ardmore Shipping (NYSE:ASC)

Receive News & Ratings for Ardmore Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply