Ardmore Shipping Co. (NYSE:ASC – Get Rating) – Jefferies Financial Group issued their Q2 2022 earnings estimates for shares of Ardmore Shipping in a research report issued to clients and investors on Wednesday, May 4th. Jefferies Financial Group analyst C. Robertson expects that the shipping company will post earnings of $0.46 per share for the quarter. Jefferies Financial Group has a “Buy” rating and a $7.50 price objective on the stock. Jefferies Financial Group also issued estimates for Ardmore Shipping’s Q3 2022 earnings at $0.14 EPS, Q4 2022 earnings at $0.20 EPS, FY2022 earnings at $0.77 EPS and FY2023 earnings at $0.15 EPS.
Ardmore Shipping (NYSE:ASC – Get Rating) last released 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 net margin of 16.80% and a negative return on equity of 9.46%. During the same quarter in the previous year, the company earned ($0.26) EPS.
A number of other brokerages have also recently commented on ASC. TheStreet raised shares of Ardmore Shipping from a “d+” rating to a “c-” rating in a report on Wednesday, April 27th. StockNews.com initiated coverage on shares of Ardmore Shipping in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Tuesday, April 26th. Finally, HC Wainwright lifted their target price on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $6.59.
Shares of Ardmore Shipping stock opened at $7.00 on Monday. The firm has a fifty day simple moving average of $5.05. The firm has a market cap of $242.02 million, a PE ratio of -6.42 and a beta of 0.30. Ardmore Shipping has a 12 month low of $3.07 and a 12 month high of $7.39. The company has a quick ratio of 1.42, a current ratio of 1.86 and a debt-to-equity ratio of 1.10.
A number of large investors have recently bought and sold shares of the stock. Private Management Group Inc. grew its position in Ardmore Shipping by 1.7% in 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 buying an additional 47,103 shares during the last quarter. Royce & Associates LP grew its position in Ardmore Shipping by 2.4% in the 1st quarter. Royce & Associates LP now owns 1,898,286 shares of the shipping company’s stock valued at $8,542,000 after buying an additional 44,979 shares during the last quarter. Institute for Wealth Management LLC. purchased a new position in Ardmore Shipping in the 1st quarter valued at $140,000. BlackRock Inc. grew its position in Ardmore Shipping by 4.5% in the 4th quarter. BlackRock Inc. now owns 392,529 shares of the shipping company’s stock valued at $1,327,000 after buying an additional 16,982 shares during the last quarter. Finally, Sei Investments Co. grew its position 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. Hedge funds and other 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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