Ardmore Shipping Corp. Expected to Earn Q1 2017 Earnings of $0.22 Per Share (ASC)
Ardmore Shipping Corp. (NYSE:ASC) – Equities research analysts at Seaport Global Securities reduced their Q1 2017 earnings per share estimates for Ardmore Shipping Corp. in a report issued on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will post earnings per share of $0.22 for the quarter, down from their previous estimate of $0.28. Seaport Global Securities also issued estimates for Ardmore Shipping Corp.’s Q2 2017 earnings at $0.23 EPS, Q3 2017 earnings at $0.24 EPS and Q4 2017 earnings at $0.25 EPS.
Ardmore Shipping Corp. (NYSE:ASC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Ardmore Shipping Corp. had a return on equity of 8.47% and a net margin of 18.12%. The business earned $39.70 million during the quarter, compared to analyst estimates of $32.49 million. Ardmore Shipping Corp.’s revenue for the quarter was up 1.0% compared to the same quarter last year.
Several other equities research analysts have also recently weighed in on ASC. TheStreet upgraded shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $11.00 target price on shares of Ardmore Shipping Corp. in a research note on Wednesday, June 15th. Zacks Investment Research cut shares of Ardmore Shipping Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Jefferies Group reiterated a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Monday, August 22nd. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Tuesday, September 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$12.63.
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Shares of Ardmore Shipping Corp. (NYSE:ASC) traded down 1.45% during trading on Wednesday, reaching $6.81. The company had a trading volume of 138,881 shares. The firm has a 50-day moving average of $7.15 and a 200-day moving average of $7.98. The company has a market cap of $228.06 million, a P/E ratio of 5.77 and a beta of 1.30. Ardmore Shipping Corp. has a 12-month low of $6.46 and a 12-month high of $15.03.
Several hedge funds have recently bought and sold shares of the company. Eqis Capital Management Inc. purchased a new stake in Ardmore Shipping Corp. during the third quarter valued at $104,000. Teachers Advisors Inc. raised its stake in Ardmore Shipping Corp. by 16.0% in the second quarter. Teachers Advisors Inc. now owns 33,461 shares of the company’s stock valued at $227,000 after buying an additional 4,610 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Ardmore Shipping Corp. by 85.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 38,510 shares of the company’s stock valued at $261,000 after buying an additional 17,762 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in Ardmore Shipping Corp. by 8.9% in the first quarter. Clear Harbor Asset Management LLC now owns 40,193 shares of the company’s stock valued at $340,000 after buying an additional 3,268 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Ardmore Shipping Corp. by 20.5% in the second quarter. California State Teachers Retirement System now owns 45,763 shares of the company’s stock valued at $310,000 after buying an additional 7,782 shares during the last quarter. 63.25% of the stock is owned by institutional investors.
Ardmore Shipping Corp. Company Profile
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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