Brokerages expect Ardmore Shipping Co. (NYSE:ASC – Get Rating) to post sales of $54.03 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Ardmore Shipping’s earnings, with the lowest sales estimate coming in at $51.60 million and the highest estimate coming in at $58.42 million. Ardmore Shipping posted sales of $26.78 million in the same quarter last year, which suggests a positive year over year growth rate of 101.8%. The firm is scheduled to announce its next earnings results on Monday, January 1st.
On average, analysts expect that Ardmore Shipping will report full year sales of $172.91 million for the current financial year, with estimates ranging from $170.15 million to $175.77 million. For the next financial year, analysts anticipate that the firm will post sales of $147.44 million, with estimates ranging from $140.87 million to $151.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ardmore Shipping.
Ardmore Shipping (NYSE:ASC – Get Rating) last issued its quarterly earnings data 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 return on equity of 9.46% and a negative net margin of 16.80%. During the same quarter in the previous year, the company posted ($0.26) earnings per share.
Several brokerages recently issued reports on ASC. Jefferies Financial Group began coverage on Ardmore Shipping in a research report on Wednesday, April 27th. They set a “buy” rating and a $7.50 target price on the stock. TheStreet raised Ardmore Shipping from a “d+” rating to a “c-” rating in a research report on Wednesday, April 27th. StockNews.com initiated coverage on Ardmore Shipping in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a report on Tuesday, April 26th. Finally, HC Wainwright increased their price objective on Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a report on Friday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $6.59.
Shares of NYSE:ASC opened at $7.09 on Friday. The business’s 50-day moving average is $5.59 and its 200 day moving average is $4.42. Ardmore Shipping has a 1 year low of $3.07 and a 1 year high of $7.77. The firm has a market capitalization of $245.13 million, a P/E ratio of -6.50 and a beta of 0.30. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.86 and a quick ratio of 1.66.
Hedge funds have recently modified their holdings of the business. Eqis Capital Management Inc. purchased a new position in Ardmore Shipping during the first quarter worth approximately $46,000. Virtu Financial LLC purchased a new position in Ardmore Shipping during the first quarter worth approximately $68,000. Jump Financial LLC purchased a new position in Ardmore Shipping during the third quarter worth approximately $76,000. Renaissance Technologies LLC purchased a new position in Ardmore Shipping during the fourth quarter worth approximately $63,000. Finally, Marshall Wace LLP purchased a new position in Ardmore Shipping during the fourth quarter worth approximately $79,000. Institutional investors own 66.52% of the company’s stock.
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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