Ardmore Shipping Corp (ASC) to Post Q1 2018 Earnings of ($0.16) Per Share, Jefferies Group Forecasts

Ardmore Shipping Corp (NYSE:ASC) – Equities research analysts at Jefferies Group lifted their Q1 2018 earnings per share (EPS) estimates for Ardmore Shipping in a research note issued on Wednesday. Jefferies Group analyst R. Giveans now anticipates that the shipping company will post earnings of ($0.16) per share for the quarter, up from their prior estimate of ($0.20). Jefferies Group currently has a “Buy” rating and a $11.00 target price on the stock. Jefferies Group also issued estimates for Ardmore Shipping’s Q2 2018 earnings at ($0.07) EPS and FY2018 earnings at $0.12 EPS.

Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Seaport Global Securities set a $12.00 price target on shares of Ardmore Shipping and gave the company a “buy” rating in a report on Thursday, January 4th. Stifel Nicolaus set a $10.00 price target on shares of Ardmore Shipping and gave the company a “buy” rating in a report on Sunday, October 29th. Morgan Stanley lifted their price target on shares of Ardmore Shipping from $8.50 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Finally, ValuEngine downgraded shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $10.33.

Ardmore Shipping (NYSE:ASC) opened at $7.10 on Monday. Ardmore Shipping has a 1-year low of $6.40 and a 1-year high of $9.05. The stock has a market cap of $238.39, a PE ratio of -18.68, a P/E/G ratio of 4.24 and a beta of 1.12. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 1.07.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Wednesday, February 7th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03. Ardmore Shipping had a negative net margin of 6.37% and a negative return on equity of 3.16%. The firm had revenue of $30.23 million during the quarter, compared to the consensus estimate of $30.24 million. During the same period last year, the firm posted ($0.11) EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in shares of Ardmore Shipping by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 119,695 shares of the shipping company’s stock worth $975,000 after acquiring an additional 762 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ardmore Shipping by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock worth $255,000 after acquiring an additional 1,306 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Ardmore Shipping by 32.4% in the second quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock worth $120,000 after acquiring an additional 3,614 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Ardmore Shipping by 12.2% in the second quarter. TIAA CREF Investment Management LLC now owns 75,564 shares of the shipping company’s stock worth $616,000 after acquiring an additional 8,212 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Ardmore Shipping by 16.7% in the second quarter. Vanguard Group Inc. now owns 88,479 shares of the shipping company’s stock worth $721,000 after acquiring an additional 12,631 shares during the last quarter. 75.51% of the stock is owned by institutional investors.

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About Ardmore Shipping

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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