Wall Street analysts forecast that Ardmore Shipping Corp (NYSE:ASC) will announce earnings of $0.16 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ardmore Shipping’s earnings. The highest EPS estimate is $0.17 and the lowest is $0.15. Ardmore Shipping reported earnings per share of ($0.26) during the same quarter last year, which would suggest a positive year over year growth rate of 161.5%. The firm is scheduled to report its next earnings report on Wednesday, February 5th.

According to Zacks, analysts expect that Ardmore Shipping will report full-year earnings of ($0.20) per share for the current year. For the next financial year, analysts forecast that the firm will post earnings of $0.77 per share, with EPS estimates ranging from $0.63 to $0.92. Zacks’ EPS averages are an average based on a survey of analysts that cover Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Tuesday, November 5th. The shipping company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $52.10 million for the quarter, compared to the consensus estimate of $29.98 million. Ardmore Shipping had a negative net margin of 18.34% and a negative return on equity of 6.11%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted ($0.37) EPS.

A number of research analysts recently issued reports on ASC shares. Fearnley Fonds lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Zacks Investment Research raised Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus downgraded Ardmore Shipping from a “buy” rating to a “hold” rating and lifted their target price for the stock from $9.00 to $9.50 in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Ardmore Shipping currently has an average rating of “Hold” and an average target price of $8.33.

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of Ardmore Shipping by 5.8% in the 3rd quarter. Rhumbline Advisers now owns 49,725 shares of the shipping company’s stock worth $333,000 after acquiring an additional 2,724 shares in the last quarter. Bank of Montreal Can grew its stake in Ardmore Shipping by 17,931.6% during the second quarter. Bank of Montreal Can now owns 3,426 shares of the shipping company’s stock worth $28,000 after purchasing an additional 3,407 shares during the period. Vanguard Group Inc. grew its stake in Ardmore Shipping by 5.1% during the second quarter. Vanguard Group Inc. now owns 81,020 shares of the shipping company’s stock worth $660,000 after purchasing an additional 3,958 shares during the period. California State Teachers Retirement System lifted its stake in Ardmore Shipping by 8.0% in the third quarter. California State Teachers Retirement System now owns 54,125 shares of the shipping company’s stock valued at $362,000 after buying an additional 4,005 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ardmore Shipping by 7.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,072 shares of the shipping company’s stock worth $572,000 after buying an additional 4,782 shares in the last quarter. 88.80% of the stock is owned by institutional investors and hedge funds.

Shares of ASC stock opened at $7.99 on Friday. The firm has a market capitalization of $264.45 million, a P/E ratio of -7.68 and a beta of 1.24. Ardmore Shipping has a twelve month low of $4.22 and a twelve month high of $9.79. The company has a quick ratio of 1.34, a current ratio of 1.50 and a debt-to-equity ratio of 1.20. The stock’s fifty day simple moving average is $8.32 and its 200 day simple moving average is $7.39.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.

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Earnings History and Estimates for Ardmore Shipping (NYSE:ASC)

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