Research Analysts Offer Predictions for Ardmore Shipping Corp’s FY2018 Earnings (ASC)

Ardmore Shipping Corp (NYSE:ASC) – Stock analysts at Seaport Global Securities dropped their FY2018 earnings per share estimates for shares of Ardmore Shipping in a research report issued on Thursday. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will post earnings per share of $0.16 for the year, down from their prior forecast of $0.26. Seaport Global Securities currently has a “Buy” rating and a $12.00 price objective on the stock. Seaport Global Securities also issued estimates for Ardmore Shipping’s Q4 2018 earnings at $0.25 EPS, Q3 2019 earnings at $0.30 EPS and Q4 2019 earnings at $0.31 EPS.

A number of other research firms have also weighed in on ASC. Jefferies Group reaffirmed a “buy” rating and set a $10.00 target price on shares of Ardmore Shipping in a report on Monday, October 16th. Zacks Investment Research lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Stifel Nicolaus set a $10.00 price target on shares of Ardmore Shipping and gave the stock a “buy” rating in a report on Sunday, October 29th. Morgan Stanley increased their price target on shares of Ardmore Shipping from $8.50 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Finally, ValuEngine lowered shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.33.

Ardmore Shipping (NYSE:ASC) traded up $0.02 during trading on Friday, reaching $6.77. 359,489 shares of the company were exchanged, compared to its average volume of 261,814. The company has a quick ratio of 1.41, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. The company has a market cap of $223.28, a price-to-earnings ratio of -17.76, a PEG ratio of 3.45 and a beta of 1.12. Ardmore Shipping has a twelve month low of $6.40 and a twelve month high of $9.05.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Wednesday, February 7th. The shipping company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.03. The company had revenue of $30.23 million for the quarter, compared to analysts’ expectations of $30.24 million. Ardmore Shipping had a negative net margin of 6.37% and a negative return on equity of 3.13%. Ardmore Shipping’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) EPS.

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in Ardmore Shipping by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 119,695 shares of the shipping company’s stock valued at $975,000 after buying an additional 762 shares during the period. Alliancebernstein L.P. purchased a new stake in Ardmore Shipping during the 2nd quarter valued at $155,000. TIAA CREF Investment Management LLC boosted its position in Ardmore Shipping by 12.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 75,564 shares of the shipping company’s stock valued at $616,000 after buying an additional 8,212 shares during the period. Northern Trust Corp boosted its position in Ardmore Shipping by 88.7% during the 2nd quarter. Northern Trust Corp now owns 919,286 shares of the shipping company’s stock valued at $7,492,000 after buying an additional 432,042 shares during the period. Finally, Vanguard Group Inc. boosted its position in Ardmore Shipping by 16.7% during the 2nd quarter. Vanguard Group Inc. now owns 88,479 shares of the shipping company’s stock valued at $721,000 after buying an additional 12,631 shares during the period. 75.51% of the stock is currently owned by institutional investors.

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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.

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

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