Brokerages Expect Ardmore Shipping Corporation (ASC) Will Announce Earnings of -$0.10 Per Share
Brokerages expect Ardmore Shipping Corporation (NYSE:ASC) to announce earnings of ($0.10) per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Ardmore Shipping Corporation’s earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.15). Ardmore Shipping Corporation reported earnings of ($0.05) per share in the same quarter last year, which would indicate a negative year over year growth rate of 100%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Ardmore Shipping Corporation will report full-year earnings of ($0.11) per share for the current fiscal year, with EPS estimates ranging from ($0.36) to $0.28. For the next year, analysts anticipate that the business will report earnings of $0.69 per share, with EPS estimates ranging from $0.06 to $1.43. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Ardmore Shipping Corporation.
Ardmore Shipping Corporation (NYSE:ASC) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Ardmore Shipping Corporation had a negative net margin of 6.92% and a negative return on equity of 2.35%. The company had revenue of $49.85 million for the quarter, compared to analyst estimates of $31.73 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 25.5% compared to the same quarter last year.
ASC has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a research note on Monday, April 24th. ValuEngine lowered shares of Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. BidaskClub downgraded Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $10.00 price objective on shares of Ardmore Shipping Corporation in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $9.88.
Large investors have recently added to or reduced their stakes in the company. KBC Group NV bought a new stake in Ardmore Shipping Corporation during the first quarter valued at approximately $1,351,000. Paradigm Capital Management Inc. NY raised its stake in Ardmore Shipping Corporation by 4.1% in the first quarter. Paradigm Capital Management Inc. NY now owns 127,100 shares of the shipping company’s stock valued at $1,023,000 after buying an additional 5,000 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Ardmore Shipping Corporation by 0.3% in the first quarter. Parametric Portfolio Associates LLC now owns 170,457 shares of the shipping company’s stock valued at $1,372,000 after buying an additional 481 shares in the last quarter. Eagle Boston Investment Management Inc. raised its stake in Ardmore Shipping Corporation by 5.7% in the first quarter. Eagle Boston Investment Management Inc. now owns 908,767 shares of the shipping company’s stock valued at $7,315,000 after buying an additional 48,669 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Ardmore Shipping Corporation by 100.1% in the first quarter. Sei Investments Co. now owns 176,135 shares of the shipping company’s stock valued at $1,418,000 after buying an additional 88,128 shares in the last quarter. Institutional investors and hedge funds own 76.35% of the company’s stock.
Ardmore Shipping Corporation (NYSE ASC) traded down 3.36% during mid-day trading on Thursday, reaching $7.20. 147,295 shares of the company were exchanged. The stock has a 50 day moving average of $7.82 and a 200-day moving average of $7.59. Ardmore Shipping Corporation has a one year low of $5.00 and a one year high of $8.75. The stock’s market capitalization is $241.74 million.
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.
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