Ardmore Shipping Corporation (NYSE:ASC) is scheduled to post its quarterly earnings results before the market opens on Wednesday, November 1st. Analysts expect Ardmore Shipping Corporation to post earnings of ($0.12) per share for the quarter.

Ardmore Shipping Corporation (NYSE:ASC) last released its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $49.85 million during the quarter, compared to the consensus estimate 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 for the quarter was up 25.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. On average, analysts expect Ardmore Shipping Corporation to post $-0.16 EPS for the current fiscal year and $0.64 EPS for the next fiscal year.

Ardmore Shipping Corporation (ASC) traded up 0.904% during mid-day trading on Thursday, hitting $8.375. The stock had a trading volume of 37,535 shares. Ardmore Shipping Corporation has a one year low of $5.00 and a one year high of $9.05. The stock’s market cap is $281.19 million. The firm’s 50-day moving average is $8.24 and its 200 day moving average is $7.86.

Ardmore Shipping Corporation declared that its board has authorized a share repurchase plan on Thursday, August 31st that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the shipping company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

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A number of research firms have recently weighed in on ASC. Jefferies Group LLC restated a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a report on Monday, October 16th. Stifel Nicolaus restated a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a report on Friday, July 7th. Zacks Investment Research upgraded shares of Ardmore Shipping Corporation from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Tuesday, October 3rd. ValuEngine upgraded shares of Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, BidaskClub upgraded shares of Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $10.25.

A hedge fund recently raised its stake in Ardmore Shipping Corporation stock. Vanguard Group Inc. increased its position in Ardmore Shipping Corporation (NYSE:ASC) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,479 shares of the shipping company’s stock after acquiring an additional 12,631 shares during the quarter. Vanguard Group Inc. owned about 0.26% of Ardmore Shipping Corporation worth $721,000 at the end of the most recent quarter. 76.72% of the stock is currently owned by institutional investors.

About Ardmore Shipping Corporation

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 for Ardmore Shipping Corporation (NYSE:ASC)

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