Ardmore Shipping Corp Price Target Cut to $16.00 (ASC)
Investment analysts at Evercore Partners reduced their price objective on shares of Ardmore Shipping Corp (NYSE:ASC) from $17.00 to $16.00 in a note issued to investors on Wednesday, AnalystRatings.Net reports. Evercore Partners’ price objective points to a potential upside of 22.98% from the company’s current price.
Shares of Ardmore Shipping Corp (NYSE:ASC) traded up 0.77% on Wednesday, hitting $13.11. The stock had a trading volume of 35,951 shares. Ardmore Shipping Corp has a 52-week low of $11.32 and a 52-week high of $15.84. The stock has a 50-day moving average of $13.01 and a 200-day moving average of $13.51. The company’s market cap is $328.4 million.
Ardmore Shipping Corp (NYSE:ASC) last announced its earnings results on Tuesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). On average, analysts predict that Ardmore Shipping Corp will post $0.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, April 28th.
Separately, analysts at Jefferies Group cut their price target on shares of Ardmore Shipping Corp from $20.00 to $18.00 in a research note on Monday, April 21st. They now have a “buy” rating on the stock. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $17.60.
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies.
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