Ardmore Shipping Corporation (NYSE:ASC) – Analysts at Seaport Global Securities reduced their Q3 2017 earnings estimates for shares of Ardmore Shipping Corporation in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings of ($0.14) per share for the quarter, down from their previous estimate of ($0.06). Seaport Global Securities also issued estimates for Ardmore Shipping Corporation’s Q4 2017 earnings at ($0.02) EPS and FY2017 earnings at ($0.28) EPS.

Several other equities analysts have also recently commented on ASC. BidaskClub cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research raised Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. ValuEngine raised Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $10.00 price target on shares of Ardmore Shipping Corporation in a report on Friday, July 7th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Ardmore Shipping Corporation in a report on Monday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Ardmore Shipping Corporation presently has an average rating of “Hold” and an average target price of $9.88.

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Ardmore Shipping Corporation (NYSE ASC) opened at 7.70 on Monday. The stock has a 50 day moving average price of $7.97 and a 200 day moving average price of $7.59. The firm’s market cap is $258.53 million. Ardmore Shipping Corporation has a 12 month low of $5.00 and a 12 month high of $8.75.

Ardmore Shipping Corporation (NYSE:ASC) last issued its earnings results on Thursday, August 3rd. The shipping company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $49.85 million during the quarter, compared to analyst estimates of $31.73 million. Ardmore Shipping Corporation had a negative return on equity of 2.35% and a negative net margin of 6.92%. The business’s revenue was up 25.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS.

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Ardmore Shipping Corporation during the first quarter worth about $103,000. American International Group Inc. boosted its position in shares of Ardmore Shipping Corporation by 33.3% in the first quarter. American International Group Inc. now owns 16,725 shares of the shipping company’s stock worth $135,000 after buying an additional 4,177 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Ardmore Shipping Corporation during the first quarter worth about $146,000. Nationwide Fund Advisors boosted its position in shares of Ardmore Shipping Corporation by 15.8% in the first quarter. Nationwide Fund Advisors now owns 20,423 shares of the shipping company’s stock worth $164,000 after buying an additional 2,792 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of Ardmore Shipping Corporation by 11.5% in the first quarter. OppenheimerFunds Inc. now owns 59,704 shares of the shipping company’s stock worth $481,000 after buying an additional 6,165 shares during the last quarter. 76.54% of the stock is owned by institutional investors and hedge funds.

Ardmore Shipping Corporation 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.

Earnings History and Estimates for Ardmore Shipping Corporation (NYSE:ASC)

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