Equities analysts expect Ardmore Shipping Corporation (NYSE:ASC) to post $32.85 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Ardmore Shipping’s earnings, with the lowest sales estimate coming in at $30.00 million and the highest estimate coming in at $37.82 million. Ardmore Shipping posted sales of $43.18 million during the same quarter last year, which suggests a negative year over year growth rate of 23.9%. The firm is scheduled to announce its next earnings report on Tuesday, February 6th.

On average, analysts expect that Ardmore Shipping will report full year sales of $32.85 million for the current year, with estimates ranging from $123.00 million to $130.79 million. For the next fiscal year, analysts forecast that the firm will report sales of $160.11 million per share, with estimates ranging from $137.00 million to $188.31 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings results on Wednesday, November 1st. The shipping company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). Ardmore Shipping had a negative net margin of 6.45% and a negative return on equity of 3.08%. The business had revenue of $48.70 million for the quarter, compared to analyst estimates of $29.99 million. During the same period last year, the firm earned ($0.05) earnings per share. Ardmore Shipping’s revenue for the quarter was up 28.2% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on ASC shares. Zacks Investment Research upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. BidaskClub upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Stifel Nicolaus set a $10.00 price target on shares of Ardmore Shipping and gave the company a “buy” rating in a research note on Sunday, October 29th. Morgan Stanley raised their price target on shares of Ardmore Shipping from $8.50 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Finally, ValuEngine upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.00.

Large investors have recently bought and sold shares of the stock. Voya Investment Management LLC boosted its position in Ardmore Shipping by 32.4% during the 2nd quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock worth $120,000 after buying an additional 3,614 shares during the period. Alliancebernstein L.P. acquired a new stake in Ardmore Shipping during the 2nd quarter worth approximately $155,000. Citadel Advisors LLC acquired a new stake in Ardmore Shipping during the 2nd quarter worth approximately $174,000. The Manufacturers Life Insurance Company boosted its position in Ardmore Shipping by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock worth $255,000 after buying an additional 1,306 shares during the period. Finally, GRT Capital Partners L.L.C. acquired a new stake in Ardmore Shipping during the 2nd quarter worth approximately $303,000. Institutional investors and hedge funds own 77.29% of the company’s stock.

Shares of Ardmore Shipping (ASC) remained flat at $$7.75 during trading on Monday. The stock had a trading volume of 132,138 shares, compared to its average volume of 208,926. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.41 and a current ratio of 1.57. Ardmore Shipping has a 1 year low of $6.60 and a 1 year high of $9.05.

Ardmore Shipping announced that its board has approved a stock repurchase program on Thursday, August 31st that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the shipping company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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

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