Ardmore Shipping Co. (NYSE:ASC) Expected to Post Earnings of -$0.32 Per Share

Analysts expect Ardmore Shipping Co. (NYSE:ASC) to post earnings per share of ($0.32) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Ardmore Shipping’s earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.37). Ardmore Shipping reported earnings per share of $0.20 during the same quarter last year, which suggests a negative year-over-year growth rate of 260%. The company is scheduled to issue its next quarterly earnings report on Tuesday, May 4th.

On average, analysts expect that Ardmore Shipping will report full year earnings of ($0.78) per share for the current fiscal year, with EPS estimates ranging from ($1.01) to ($0.51). For the next financial year, analysts forecast that the company will report earnings of $0.13 per share, with EPS estimates ranging from $0.09 to $0.19. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last issued its earnings results on Tuesday, February 9th. The shipping company reported ($0.36) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.05. Ardmore Shipping had a return on equity of 4.78% and a net margin of 6.45%. The company had revenue of $21.84 million during the quarter, compared to the consensus estimate of $24.99 million.

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Ardmore Shipping from $6.00 to $5.50 and set a “buy” rating on the stock in a report on Friday, January 29th. HC Wainwright assumed coverage on Ardmore Shipping in a report on Monday, March 29th. They set a “neutral” rating and a $5.50 price target on the stock. Finally, Zacks Investment Research raised Ardmore Shipping from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Ardmore Shipping presently has a consensus rating of “Hold” and an average price target of $5.63.

ASC stock traded up $0.02 during midday trading on Friday, reaching $4.30. The company had a trading volume of 1,900 shares, compared to its average volume of 350,690. The company has a quick ratio of 1.50, a current ratio of 1.66 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average price of $4.55 and a 200 day moving average price of $3.62. Ardmore Shipping has a fifty-two week low of $2.98 and a fifty-two week high of $5.43. The firm has a market capitalization of $142.70 million, a PE ratio of 9.11 and a beta of 1.16.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Ardmore Shipping by 4.9% during the fourth quarter. BlackRock Inc. now owns 2,191,085 shares of the shipping company’s stock worth $7,166,000 after purchasing an additional 102,345 shares in the last quarter. Private Management Group Inc. grew its position in Ardmore Shipping by 34.8% in the fourth quarter. Private Management Group Inc. now owns 2,108,086 shares of the shipping company’s stock worth $6,893,000 after buying an additional 544,750 shares during the last quarter. Sei Investments Co. grew its position in Ardmore Shipping by 0.8% in the fourth quarter. Sei Investments Co. now owns 643,633 shares of the shipping company’s stock worth $2,105,000 after buying an additional 4,936 shares during the last quarter. Boston Partners grew its position in Ardmore Shipping by 9.7% in the third quarter. Boston Partners now owns 376,174 shares of the shipping company’s stock worth $1,339,000 after buying an additional 33,359 shares during the last quarter. Finally, Acuitas Investments LLC grew its position in Ardmore Shipping by 3.0% in the fourth quarter. Acuitas Investments LLC now owns 354,976 shares of the shipping company’s stock worth $1,161,000 after buying an additional 10,401 shares during the last quarter. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2021, 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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