Analysts Expect Ardmore Shipping Corp (ASC) Will Announce Earnings of -$0.08 Per Share

Analysts expect Ardmore Shipping Corp (NYSE:ASC) to announce ($0.08) earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Ardmore Shipping’s earnings, with estimates ranging from ($0.16) to $0.08. Ardmore Shipping reported earnings of ($0.06) per share during the same quarter last year, which would indicate a negative year over year growth rate of 33.3%. The firm is expected to issue its next earnings results on Wednesday, May 2nd.

On average, analysts expect that Ardmore Shipping will report full-year earnings of $0.13 per share for the current year, with EPS estimates ranging from ($0.12) to $0.33. For the next fiscal year, analysts forecast that the company will post earnings of $0.90 per share, with EPS estimates ranging from $0.27 to $1.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last issued its earnings results on Wednesday, February 7th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $30.23 million for the quarter, compared to analysts’ expectations of $30.24 million. During the same period in the prior year, the business earned ($0.11) EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Stifel Nicolaus set a $9.00 price target on shares of Ardmore Shipping and gave the company a “buy” rating in a report on Wednesday, January 24th. 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. Jefferies Group assumed coverage on shares of Ardmore Shipping in a report on Monday, December 18th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, ValuEngine cut 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 stock. Ardmore Shipping presently has an average rating of “Hold” and a consensus target price of $10.33.

Shares of Ardmore Shipping (ASC) opened at $7.20 on Thursday. Ardmore Shipping has a 1-year low of $6.40 and a 1-year high of $9.05. The firm has a market cap of $235.03, a PE ratio of -18.95, a PEG ratio of 6.02 and a beta of 1.12. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.44 and a quick ratio of 1.27.

Several large investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its position in shares of Ardmore Shipping by 32.4% in the 2nd quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock valued at $120,000 after purchasing an additional 3,614 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of Ardmore Shipping in the 2nd quarter valued at approximately $155,000. Two Sigma Securities LLC purchased a new position in shares of Ardmore Shipping in the 4th quarter valued at approximately $203,000. The Manufacturers Life Insurance Company raised its position in shares of Ardmore Shipping by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Ardmore Shipping in the 4th quarter valued at approximately $535,000. Institutional investors and hedge funds own 82.10% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Analysts Expect Ardmore Shipping Corp (ASC) Will Announce Earnings of -$0.08 Per Share” was first published by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/15/analysts-expect-ardmore-shipping-corp-asc-will-announce-earnings-of-0-08-per-share.html.

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.

Get a free copy of the Zacks research report on Ardmore Shipping (ASC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ardmore Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply