Brokerages expect that Ardmore Shipping (NYSE:ASC) will post earnings of ($0.10) per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Ardmore Shipping’s earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.16). Ardmore Shipping reported earnings of ($0.06) per share during the same quarter last year, which indicates a negative year over year growth rate of 66.7%. The company is scheduled to issue its next quarterly earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Ardmore Shipping will report full-year earnings of ($0.07) per share for the current financial year, with EPS estimates ranging from ($0.27) to $0.12. For the next year, analysts expect that the firm will report earnings of $0.77 per share, with EPS estimates ranging from $0.01 to $1.35. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Ardmore Shipping.
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Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings data on Wednesday, May 2nd. The shipping company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Ardmore Shipping had a negative net margin of 7.88% and a negative return on equity of 3.98%. The firm had revenue of $50.40 million during the quarter, compared to analysts’ expectations of $31.03 million. During the same quarter in the previous year, the company posted ($0.06) EPS. Ardmore Shipping’s revenue for the quarter was up 1.4% on a year-over-year basis.
Several research firms recently commented on ASC. Zacks Investment Research downgraded Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. ValuEngine upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Monday. JPMorgan Chase upped their price objective on Ardmore Shipping from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, March 23rd. Finally, Stifel Nicolaus set a $9.00 price objective on Ardmore Shipping and gave the company a “buy” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.42.
Hedge funds have recently modified their holdings of the business. Two Sigma Securities LLC bought a new stake in Ardmore Shipping during the 4th quarter valued at $203,000. Schwab Charles Investment Management Inc. raised its holdings in 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 acquiring an additional 12,100 shares during the period. Two Sigma Investments LP bought a new stake in Ardmore Shipping during the 4th quarter valued at $535,000. Deutsche Bank AG raised its holdings in Ardmore Shipping by 57.2% during the 4th quarter. Deutsche Bank AG now owns 102,105 shares of the shipping company’s stock valued at $815,000 after acquiring an additional 37,135 shares during the period. Finally, Monarch Partners Asset Management LLC raised its holdings in Ardmore Shipping by 55.8% during the 1st quarter. Monarch Partners Asset Management LLC now owns 102,870 shares of the shipping company’s stock valued at $782,000 after acquiring an additional 36,850 shares during the period. 88.01% of the stock is currently owned by institutional investors and hedge funds.
Ardmore Shipping stock opened at $8.35 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $290.43 million, a P/E ratio of -22.57 and a beta of 0.94.
About Ardmore Shipping
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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