Equities research analysts predict that Ardmore Shipping Corporation (NYSE:ASC) will report ($0.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Ardmore Shipping’s earnings. The lowest EPS estimate is ($0.15) and the highest is $0.07. Ardmore Shipping reported earnings of ($0.11) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.2%. The firm is scheduled to announce its next earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Ardmore Shipping will report full-year earnings of ($0.35) per share for the current fiscal year, with EPS estimates ranging from ($0.41) to ($0.19). For the next financial year, analysts expect that the firm will report earnings of $0.53 per share, with EPS estimates ranging from $0.05 to $1.34. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Wednesday, November 1st. The shipping company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Ardmore Shipping had a negative net margin of 6.45% and a negative return on equity of 3.08%. The business had revenue of $48.70 million during the quarter, compared to analysts’ expectations of $29.99 million. During the same period last year, the business earned ($0.05) earnings per share. The business’s revenue for the quarter was up 28.2% on a year-over-year basis.
A number of brokerages have weighed in on ASC. ValuEngine cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Morgan Stanley lifted their price target on shares of Ardmore Shipping from $8.50 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Stifel Nicolaus set a $10.00 price target on shares of Ardmore Shipping and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Jefferies Group reiterated a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.00.
Shares of Ardmore Shipping (NYSE ASC) opened at $7.75 on Friday. Ardmore Shipping has a 12-month low of $6.60 and a 12-month high of $9.05. The company has a current ratio of 1.57, a quick ratio of 1.41 and a debt-to-equity ratio of 1.03.
Ardmore Shipping declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 31st that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the shipping company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of Ardmore Shipping by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 119,695 shares of the shipping company’s stock valued at $975,000 after purchasing an additional 762 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Ardmore Shipping by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 1,306 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Ardmore Shipping by 1.2% in the first quarter. Geode Capital Management LLC now owns 222,153 shares of the shipping company’s stock valued at $1,788,000 after purchasing an additional 2,530 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Ardmore Shipping by 32.4% in the second quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock valued at $120,000 after purchasing an additional 3,614 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Ardmore Shipping by 3.3% in the second quarter. Sei Investments Co. now owns 181,928 shares of the shipping company’s stock valued at $1,483,000 after purchasing an additional 5,793 shares in the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.
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About Ardmore Shipping
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.
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