Equities research analysts predict that Ardmore Shipping Corp (NYSE:ASC) will announce $31.80 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ardmore Shipping’s earnings, with the highest sales estimate coming in at $33.60 million and the lowest estimate coming in at $30.86 million. Ardmore Shipping posted sales of $49.67 million in the same quarter last year, which would indicate a negative year over year growth rate of 36%. The business is scheduled to report its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Ardmore Shipping will report full-year sales of $31.80 million for the current financial year, with estimates ranging from $136.00 million to $152.77 million. For the next year, analysts forecast that the business will post sales of $171.44 million per share, with estimates ranging from $154.50 million to $183.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last posted its earnings results on Wednesday, February 7th. The shipping company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. The firm had revenue of $30.23 million for the quarter, compared to analyst estimates of $30.24 million. Ardmore Shipping had a negative return on equity of 3.16% and a negative net margin of 6.37%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share.
ASC has been the topic of several recent analyst reports. Zacks Investment Research upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Seaport Global Securities set a $12.00 target price on Ardmore Shipping and gave the stock a “buy” rating in a report on Thursday, January 4th. Stifel Nicolaus set a $10.00 target price on Ardmore Shipping and gave the stock a “buy” rating in a report on Sunday, October 29th. Jefferies Group initiated coverage on Ardmore Shipping in a report on Monday, December 18th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Morgan Stanley lifted their target price on Ardmore Shipping from $8.50 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.33.
Ardmore Shipping (NYSE:ASC) traded up $0.05 during mid-day trading on Friday, reaching $7.50. The company’s stock had a trading volume of 280,302 shares, compared to its average volume of 276,928. The company has a current ratio of 1.44, a quick ratio of 1.27 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $251.82, a price-to-earnings ratio of -20.27, a PEG ratio of 7.18 and a beta of 1.12. Ardmore Shipping has a 52-week low of $6.40 and a 52-week high of $9.05.
Institutional investors have recently modified their holdings of the company. Voya Investment Management LLC lifted its holdings in shares of Ardmore Shipping by 32.4% in the second quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock valued at $120,000 after purchasing an additional 3,614 shares in the last quarter. Alliancebernstein L.P. bought a new stake in shares of Ardmore Shipping in the second quarter valued at about $155,000. Two Sigma Securities LLC bought a new stake in shares of Ardmore Shipping in the fourth quarter valued at about $203,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Ardmore Shipping by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Ardmore Shipping in the fourth quarter valued at about $535,000. Institutional investors own 86.63% of the company’s stock.
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Ardmore Shipping Company Profile
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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