Brokerages expect Ardmore Shipping Corp (NYSE:ASC) to report $33.58 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Ardmore Shipping’s earnings. The highest sales estimate is $34.80 million and the lowest is $32.10 million. Ardmore Shipping posted sales of $50.47 million in the same quarter last year, which suggests a negative year over year growth rate of 33.5%. The firm is expected to announce its next earnings results on Wednesday, May 1st.
According to Zacks, analysts expect that Ardmore Shipping will report full year sales of $142.53 million for the current year, with estimates ranging from $118.49 million to $153.00 million. For the next financial year, analysts anticipate that the firm will report sales of $164.87 million, with estimates ranging from $146.26 million to $184.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Ardmore Shipping.
Get Ardmore Shipping alerts:Ardmore Shipping (NYSE:ASC) last released its quarterly earnings data on Wednesday, February 6th. The shipping company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.02). The firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $30.45 million. Ardmore Shipping had a negative net margin of 20.43% and a negative return on equity of 9.38%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share.
ASC has been the topic of several research analyst reports. Morgan Stanley set a $7.00 price objective on Ardmore Shipping and gave the company a “hold” rating in a research note on Friday, February 15th. ValuEngine downgraded Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, February 19th. Finally, Zacks Investment Research upgraded Ardmore Shipping from a “sell” rating to a “hold” rating and set a $5.25 target price on the stock in a report on Tuesday, January 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $8.39.
Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Ardmore Shipping by 17.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,470,009 shares of the shipping company’s stock worth $9,555,000 after purchasing an additional 222,970 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Ardmore Shipping by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,491,417 shares of the shipping company’s stock worth $12,230,000 after purchasing an additional 65,753 shares during the last quarter. BlackRock Inc. increased its holdings in Ardmore Shipping by 1.4% during the 3rd quarter. BlackRock Inc. now owns 1,606,539 shares of the shipping company’s stock worth $10,443,000 after purchasing an additional 21,978 shares during the last quarter. Jefferies Group LLC purchased a new stake in Ardmore Shipping during the 3rd quarter worth approximately $1,950,000. Finally, Russell Investments Group Ltd. increased its holdings in Ardmore Shipping by 4.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,841,329 shares of the shipping company’s stock worth $18,469,000 after purchasing an additional 132,116 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.
Shares of NYSE ASC traded up $0.13 during midday trading on Monday, hitting $5.23. The stock had a trading volume of 108,997 shares, compared to its average volume of 148,193. The firm has a market capitalization of $173.10 million, a P/E ratio of -5.03 and a beta of 1.08. Ardmore Shipping has a 1-year low of $4.22 and a 1-year high of $8.75. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.45 and a quick ratio of 1.28.
About Ardmore Shipping
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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