Seaport Global Securities Comments on Ardmore Shipping Corp’s Q1 2018 Earnings (ASC)

Ardmore Shipping Corp (NYSE:ASC) – Stock analysts at Seaport Global Securities reduced their Q1 2018 earnings per share estimates for shares of Ardmore Shipping in a report issued on Thursday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings per share of ($0.06) for the quarter, down from their prior estimate of $0.06. Seaport Global Securities currently has a “Buy” rating and a $12.00 price target on the stock. Seaport Global Securities also issued estimates for Ardmore Shipping’s Q3 2018 earnings at $0.00 EPS.

Other research analysts have also issued reports about the company. Stifel Nicolaus set a $9.00 price objective on Ardmore Shipping and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Jefferies Group started coverage on Ardmore Shipping in a research report on Monday, December 18th. They issued a “buy” rating and a $11.00 price objective for the company. Morgan Stanley increased their price objective on Ardmore Shipping from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Zacks Investment Research lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, ValuEngine lowered Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.33.

Ardmore Shipping (ASC) opened at $7.10 on Monday. The firm has a market capitalization of $238.39, a P/E ratio of -18.68, a P/E/G ratio of 4.24 and a beta of 1.12. Ardmore Shipping has a 52-week low of $6.40 and a 52-week high of $9.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.44 and a quick ratio of 1.41.

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

A number of large investors have recently added to or reduced their stakes in the business. Royce & Associates LP lifted its stake in Ardmore Shipping by 8.4% during the fourth quarter. Royce & Associates LP now owns 2,108,775 shares of the shipping company’s stock worth $16,870,000 after purchasing an additional 163,250 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Ardmore Shipping by 81.4% during the fourth quarter. Bank of New York Mellon Corp now owns 946,541 shares of the shipping company’s stock worth $7,571,000 after purchasing an additional 424,688 shares in the last quarter. Eagle Boston Investment Management Inc. lifted its stake in Ardmore Shipping by 4.5% during the fourth quarter. Eagle Boston Investment Management Inc. now owns 1,071,093 shares of the shipping company’s stock worth $8,568,000 after purchasing an additional 46,564 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in Ardmore Shipping by 24.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 163,109 shares of the shipping company’s stock worth $1,305,000 after purchasing an additional 32,448 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Ardmore Shipping by 3.7% during the fourth quarter. American Century Companies Inc. now owns 1,301,297 shares of the shipping company’s stock worth $10,410,000 after purchasing an additional 45,906 shares in the last quarter. Institutional investors own 75.51% of the company’s stock.

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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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