Ardmore Shipping (NYSE:ASC) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Ardmore Shipping (NYSE:ASC) announced its earnings results on Tuesday. The shipping company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04, Fidelity Earnings reports. The business had revenue of $47.06 million for the quarter, compared to the consensus estimate of $54.67 million. Ardmore Shipping had a return on equity of 5.12% and a net margin of 6.64%.
NYSE:ASC traded down $0.22 during trading hours on Friday, hitting $4.05. 10,776 shares of the stock were exchanged, compared to its average volume of 343,128. The company’s 50 day moving average is $4.45 and its two-hundred day moving average is $5.39. Ardmore Shipping has a twelve month low of $3.73 and a twelve month high of $9.79. The company has a quick ratio of 1.40, a current ratio of 2.29 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $133.25 million, a P/E ratio of 8.54 and a beta of 1.26.
ASC has been the topic of several recent analyst reports. ValuEngine downgraded Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Monday, June 1st. Zacks Investment Research raised Ardmore Shipping from a “sell” rating to a “hold” rating in a report on Thursday. Fearnley Fonds downgraded Ardmore Shipping from a “hold” rating to a “sell” rating and set a $4.40 target price on the stock. in a report on Tuesday, June 2nd. Finally, Pareto Securities downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Tuesday, May 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Ardmore Shipping has an average rating of “Hold” and a consensus price target of $6.88.
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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