Ardmore Shipping Co. (NYSE:ASC – Get Rating) – Investment analysts at Jefferies Financial Group issued their Q3 2022 earnings per share estimates for Ardmore Shipping in a note issued to investors on Wednesday, July 27th. Jefferies Financial Group analyst O. Nokta anticipates that the shipping company will post earnings per share of $1.25 for the quarter. Jefferies Financial Group currently has a “Buy” rating and a $10.00 target price 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 Q4 2022 earnings at $0.33 EPS, FY2022 earnings at $2.35 EPS, Q1 2023 earnings at $0.36 EPS, Q2 2023 earnings at $0.38 EPS, Q3 2023 earnings at $0.40 EPS, FY2023 earnings at $1.54 EPS and FY2024 earnings at $1.72 EPS.
A number of other research firms have also commented on ASC. Clarkson Capital reaffirmed a “buy” rating on shares of Ardmore Shipping in a research report on Tuesday, June 14th. TheStreet raised Ardmore Shipping from a “d+” rating to a “c-” rating in a research report on Wednesday, April 27th. StockNews.com raised Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Friday. Finally, HC Wainwright lifted their target price on Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a research report on Friday, April 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.53.
Ardmore Shipping Trading Down 2.4 %
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NYSE ASC opened at $8.15 on Monday. The firm has a market cap of $281.78 million, a P/E ratio of -7.48 and a beta of 0.28. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.86 and a quick ratio of 1.66. The stock’s 50-day moving average is $7.47 and its 200-day moving average is $5.74. Ardmore Shipping has a one year low of $3.07 and a one year high of $8.74.
Ardmore Shipping (NYSE:ASC – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The shipping company reported $0.81 EPS for the quarter, topping 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 quarter last year, the company earned ($0.23) EPS.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in ASC. Dorsey Wright & Associates acquired a new position in shares of Ardmore Shipping during the 2nd quarter worth approximately $45,000. Eqis Capital Management Inc. acquired a new position in shares of Ardmore Shipping during the 1st quarter worth approximately $46,000. Virtu Financial LLC acquired a new position in shares of Ardmore Shipping during the 1st quarter worth approximately $68,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Ardmore Shipping during the 4th quarter worth approximately $100,000. Finally, Renaissance Technologies LLC increased its position in shares of Ardmore Shipping by 48.6% during the 1st quarter. Renaissance Technologies LLC now owns 27,500 shares of the shipping company’s stock worth $124,000 after purchasing an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 66.52% of the company’s stock.
About Ardmore Shipping
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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