Brokerages expect that Ardmore Shipping Corp (NYSE:ASC) will report earnings per share (EPS) of ($0.12) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ardmore Shipping’s earnings, with the lowest EPS estimate coming in at ($0.22) and the highest estimate coming in at ($0.04). Ardmore Shipping reported earnings per share of ($0.37) in the same quarter last year, which would suggest a positive year-over-year growth rate of 67.6%. The business is expected to report its next quarterly earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Ardmore Shipping will report full year earnings of ($0.23) per share for the current fiscal year, with EPS estimates ranging from ($0.56) to $0.06. For the next year, analysts anticipate that the business will post earnings of $0.72 per share, with EPS estimates ranging from $0.66 to $0.78. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last announced its earnings results on Wednesday, July 31st. The shipping company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Ardmore Shipping had a negative net margin of 21.50% and a negative return on equity of 7.82%. The company had revenue of $55.00 million for the quarter, compared to analysts’ expectations of $32.16 million. During the same period in the prior year, the company earned ($0.26) earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis.
Several equities research analysts recently issued reports on ASC shares. Morgan Stanley set a $8.00 price objective on Ardmore Shipping and gave the stock a “hold” rating in a research note on Thursday, May 2nd. ValuEngine downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Pareto Securities raised Ardmore Shipping from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Finally, Zacks Investment Research raised Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Ardmore Shipping has a consensus rating of “Hold” and a consensus price target of $8.68.
Institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC purchased a new stake in Ardmore Shipping in the 2nd quarter worth about $95,000. BlackRock Inc. increased its position in Ardmore Shipping by 18.5% in the 4th quarter. BlackRock Inc. now owns 1,903,432 shares of the shipping company’s stock worth $8,889,000 after purchasing an additional 296,893 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Ardmore Shipping by 14.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,680,982 shares of the shipping company’s stock worth $7,850,000 after purchasing an additional 210,973 shares during the last quarter. Adirondack Research & Management Inc. increased its position in Ardmore Shipping by 1.0% in the 1st quarter. Adirondack Research & Management Inc. now owns 398,837 shares of the shipping company’s stock worth $2,457,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in Ardmore Shipping in the 4th quarter worth about $36,000. 90.81% of the stock is owned by hedge funds and other institutional investors.
Ardmore Shipping stock traded up $0.15 during mid-day trading on Friday, hitting $5.85. The company’s stock had a trading volume of 151,314 shares, compared to its average volume of 188,176. The firm’s 50 day moving average is $7.52 and its 200 day moving average is $6.69. The company has a market cap of $193.64 million, a PE ratio of -5.63 and a beta of 1.18. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.59 and a quick ratio of 1.43. Ardmore Shipping has a 52-week low of $4.22 and a 52-week high of $8.77.
About Ardmore Shipping
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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