Ardmore Shipping Corp. to Post Q3 2016 Earnings of ($0.07) Per Share, Seaport Global Securities Forecasts (ASC)
Ardmore Shipping Corp. (NYSE:ASC) – Equities researchers at Seaport Global Securities issued their Q3 2016 earnings per share estimates for Ardmore Shipping Corp. in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr anticipates that the firm will post earnings per share of ($0.07) for the quarter. Seaport Global Securities also issued estimates for Ardmore Shipping Corp.’s Q4 2016 earnings at $0.04 EPS, FY2016 earnings at $0.36 EPS and FY2017 earnings at $0.95 EPS.
A number of other analysts have also recently commented on the stock. Morgan Stanley cut shares of Ardmore Shipping Corp. from an “overweight” rating to an “equal weight” rating and set a $8.00 target price on the stock. in a report on Thursday, August 25th. JPMorgan Chase & Co. restated a “buy” rating on shares of Ardmore Shipping Corp. in a report on Tuesday, August 16th. ABN Amro upgraded shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. Jefferies Group dropped their target price on shares of Ardmore Shipping Corp. from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Finally, Zacks Investment Research cut shares of Ardmore Shipping Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Ardmore Shipping Corp. currently has an average rating of “Buy” and a consensus target price of C$12.63.
Ardmore Shipping Corp. (NYSE:ASC) traded down 2.34% during trading on Thursday, hitting $6.69. 206,553 shares of the stock traded hands. The firm has a 50-day moving average price of $7.13 and a 200 day moving average price of $7.98. Ardmore Shipping Corp. has a 52-week low of $6.46 and a 52-week high of $15.03. The company has a market cap of $224.04 million, a P/E ratio of 5.66 and a beta of 1.30.
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Ardmore Shipping Corp. (NYSE:ASC) last posted 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 net margin of 18.12% and a return on equity of 8.47%. The business earned $39.70 million during the quarter, compared to the consensus estimate of $32.49 million. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in the company. Eagle Boston Investment Management Inc. boosted its position in shares of Ardmore Shipping Corp. by 0.8% in the third quarter. Eagle Boston Investment Management Inc. now owns 861,242 shares of the company’s stock worth $6,063,000 after buying an additional 6,502 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Ardmore Shipping Corp. during the third quarter worth about $104,000. Aristotle Capital Boston LLC boosted its position in shares of Ardmore Shipping Corp. by 24.2% in the second quarter. Aristotle Capital Boston LLC now owns 674,500 shares of the company’s stock worth $4,566,000 after buying an additional 131,256 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Ardmore Shipping Corp. by 36.7% in the second quarter. Royal Bank of Canada now owns 72,500 shares of the company’s stock worth $491,000 after buying an additional 19,468 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Ardmore Shipping Corp. during the second quarter worth about $409,000. Institutional investors own 63.25% of the company’s stock.
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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