Analysts predict that Ardmore Shipping Co. (NYSE:ASC – Get Rating) will report earnings of $0.51 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Ardmore Shipping’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.62. Ardmore Shipping reported earnings of ($0.23) per share during the same quarter last year, which suggests a positive year over year growth rate of 321.7%. The firm is scheduled to report its next earnings report on Monday, January 1st.
On average, analysts expect that Ardmore Shipping will report full year earnings of $0.81 per share for the current fiscal year, with EPS estimates ranging from $0.76 to $0.89. For the next financial year, analysts forecast that the business will post earnings of $0.30 per share, with EPS estimates ranging from $0.15 to $0.39. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Ardmore Shipping.
Ardmore Shipping (NYSE:ASC – Get Rating) last posted its earnings results on Wednesday, May 4th. The shipping company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.07. Ardmore Shipping had a negative net margin of 16.80% and a negative return on equity of 9.46%. During the same period last year, the firm posted ($0.26) EPS.
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A number of equities research analysts recently weighed in on ASC shares. HC Wainwright upped their target price on shares of Ardmore Shipping from $5.50 to $8.50 and gave the stock a “buy” rating in a report on Friday, April 22nd. Zacks Investment Research raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Tuesday, April 26th. StockNews.com began coverage on shares of Ardmore Shipping in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Jefferies Financial Group began coverage on shares of Ardmore Shipping in a research report on Wednesday, April 27th. They issued a “buy” rating and a $7.50 price objective for the company. Finally, TheStreet raised shares of Ardmore Shipping from a “d+” rating to a “c-” rating in a research report on Wednesday, April 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ardmore Shipping presently has a consensus rating of “Buy” and a consensus target price of $6.59.
Several institutional investors have recently added to or reduced their stakes in the company. Private Management Group Inc. grew its position in shares of Ardmore Shipping by 1.7% during the 1st quarter. Private Management Group Inc. now owns 2,815,681 shares of the shipping company’s stock valued at $12,671,000 after acquiring an additional 47,103 shares during the period. Royce & Associates LP grew its position in shares of Ardmore Shipping by 2.4% during the 1st quarter. Royce & Associates LP now owns 1,898,286 shares of the shipping company’s stock valued at $8,542,000 after acquiring an additional 44,979 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Ardmore Shipping by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,739,447 shares of the shipping company’s stock valued at $7,828,000 after acquiring an additional 26,216 shares during the period. Franklin Resources Inc. grew its position in shares of Ardmore Shipping by 14.1% during the 3rd quarter. Franklin Resources Inc. now owns 998,200 shares of the shipping company’s stock valued at $4,143,000 after acquiring an additional 123,300 shares during the period. Finally, Donald Smith & CO. Inc. grew its position in shares of Ardmore Shipping by 1.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 838,898 shares of the shipping company’s stock valued at $2,835,000 after acquiring an additional 14,844 shares during the period. 66.52% of the stock is owned by hedge funds and other institutional investors.
ASC opened at $7.84 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.86 and a quick ratio of 1.66. Ardmore Shipping has a fifty-two week low of $3.07 and a fifty-two week high of $8.24. The firm has a market capitalization of $271.06 million, a PE ratio of -7.19 and a beta of 0.29. The company’s 50-day moving average is $6.43 and its 200 day moving average is $4.73.
Ardmore Shipping Company Profile (Get Rating)
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2022, the company operated a fleet of 25 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.
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