Ardmore Shipping Co. (NYSE:ASC – Get Rating) – Equities research analysts at Jefferies Financial Group issued their Q4 2023 earnings per share (EPS) estimates for shares of Ardmore Shipping in a research report issued on Wednesday, July 27th. Jefferies Financial Group analyst O. Nokta forecasts that the shipping company will post earnings per share of $0.40 for the quarter. Jefferies Financial Group has a “Buy” rating and a $10.00 price target on the stock. The consensus estimate for Ardmore Shipping’s current full-year earnings is $2.02 per share. Jefferies Financial Group also issued estimates for Ardmore Shipping’s Q1 2024 earnings at $0.44 EPS and Q2 2024 earnings at $0.41 EPS.
A number of other research analysts also recently weighed in on ASC. Clarkson Capital restated a “buy” rating on shares of Ardmore Shipping in a research note on Tuesday, June 14th. StockNews.com upgraded Ardmore Shipping from a “hold” rating to a “buy” rating in a research note on Friday. TheStreet upgraded Ardmore Shipping from a “d+” rating to a “c-” rating in a research note on Wednesday, April 27th. Finally, HC Wainwright raised their price target on Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a research note on Friday, April 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.53.
Ardmore Shipping Stock Down 2.4 %
Shares of Ardmore Shipping stock opened at $8.15 on Friday. The business’s 50 day simple moving average is $7.47 and its 200 day simple moving average is $5.71. Ardmore Shipping has a 52-week low of $3.07 and a 52-week high of $8.74. The firm has a market cap of $281.78 million, a PE ratio of -7.48 and a beta of 0.28. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.66 and a current ratio of 1.86.
Ardmore Shipping (NYSE:ASC – Get Rating) last announced its earnings results on Wednesday, July 27th. The shipping company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. Ardmore Shipping had a negative return on equity of 9.46% and a negative net margin of 16.80%. During the same period last year, the firm posted ($0.23) EPS.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Ardmore Shipping during the 2nd quarter worth approximately $244,000. Dorsey Wright & Associates bought a new position in shares of Ardmore Shipping during the 2nd quarter worth approximately $45,000. Virtu Financial LLC bought a new position in shares of Ardmore Shipping during the 1st quarter worth approximately $68,000. Eqis Capital Management Inc. bought a new stake in Ardmore Shipping in the 1st quarter valued at $46,000. Finally, Renaissance Technologies LLC boosted its stake in Ardmore Shipping by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 27,500 shares of the shipping company’s stock valued at $124,000 after purchasing an additional 9,000 shares during the period. 66.52% of the stock is currently owned by institutional investors.
Ardmore Shipping Company Profile
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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