Analysts forecast that Ardmore Shipping Co. (NYSE:ASC – Get Rating) will report sales of $31.54 million for the current quarter, according to Zacks. Three analysts have provided estimates for Ardmore Shipping’s earnings, with estimates ranging from $30.10 million to $33.12 million. Ardmore Shipping posted sales of $25.16 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.4%. The business is scheduled to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Ardmore Shipping will report full-year sales of $140.62 million for the current fiscal year, with estimates ranging from $134.90 million to $147.78 million. For the next financial year, analysts expect that the business will report sales of $145.85 million, with estimates ranging from $140.16 million to $151.70 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ardmore Shipping.
Ardmore Shipping (NYSE:ASC – Get Rating) last released its quarterly earnings results on Monday, February 14th. The shipping company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). Ardmore Shipping had a negative net margin of 19.14% and a negative return on equity of 11.74%. During the same quarter last year, the company earned ($0.39) earnings per share.
Several equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Ardmore Shipping in a report on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Thursday, December 23rd. HC Wainwright reiterated a “buy” rating and set a $5.50 price objective on shares of Ardmore Shipping in a report on Wednesday, February 16th. Zacks Investment Research upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. Finally, Fearnley Fonds cut shares of Ardmore Shipping to a “hold” rating and set a $4.10 price target on the stock. in a research report on Thursday, December 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.78.
Shares of Ardmore Shipping stock traded up $0.19 during trading on Friday, hitting $5.40. The company’s stock had a trading volume of 335 shares, compared to its average volume of 293,062. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 1.15. Ardmore Shipping has a 52 week low of $3.07 and a 52 week high of $5.57. The firm’s 50-day moving average is $4.27.
A number of hedge funds and other institutional investors have recently made changes to their positions in ASC. Private Management Group Inc. increased its stake in Ardmore Shipping by 2.7% in the 4th quarter. Private Management Group Inc. now owns 2,768,578 shares of the shipping company’s stock valued at $9,358,000 after buying an additional 72,903 shares during the last quarter. Royce & Associates LP increased its stake in Ardmore Shipping by 7.9% in the 4th quarter. Royce & Associates LP now owns 1,853,307 shares of the shipping company’s stock valued at $6,264,000 after buying an additional 135,000 shares during the last quarter. Franklin Resources Inc. increased its stake in Ardmore Shipping by 14.1% in the 3rd quarter. Franklin Resources Inc. now owns 998,200 shares of the shipping company’s stock valued at $4,143,000 after buying an additional 123,300 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in Ardmore Shipping by 1.8% in the 4th quarter. Donald Smith & CO. Inc. now owns 838,898 shares of the shipping company’s stock valued at $2,835,000 after buying an additional 14,844 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Ardmore Shipping by 3.7% in the 4th quarter. Sei Investments Co. now owns 471,539 shares of the shipping company’s stock valued at $1,594,000 after buying an additional 16,671 shares during the last quarter. 60.11% of the stock is currently owned by institutional investors and hedge funds.
Ardmore Shipping Company Profile (Get Rating)
Ardmore Shipping Corp. operates as a holding company. The firm engages in the provision of seaborne transportation of petroleum products and chemicals worldwide. It also owns and operates fleet of tankers. The company was founded by Anthony Gurnee on May 14, 2013 and is headquartered in Pembroke, Bermuda.
Featured Stories
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
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.
