Ardmore Shipping Co. (NYSE:ASC) to Issue Quarterly Dividend of $0.31

Ardmore Shipping Co. (NYSE:ASC) announced a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, May 31st will be given a dividend of 0.31 per share by the shipping company on Friday, June 14th. This represents a $1.24 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Ardmore Shipping’s previous quarterly dividend of $0.21.

Ardmore Shipping has increased its dividend by an average of 184.4% annually over the last three years.

Ardmore Shipping Stock Up 0.3 %

Shares of NYSE ASC opened at $20.41 on Friday. Ardmore Shipping has a 52-week low of $11.59 and a 52-week high of $20.52. The company has a quick ratio of 3.38, a current ratio of 3.75 and a debt-to-equity ratio of 0.15. The company’s 50-day simple moving average is $16.52 and its 200-day simple moving average is $15.31. The firm has a market cap of $829.20 million, a price-to-earnings ratio of 7.48 and a beta of 0.36.

Ardmore Shipping (NYSE:ASC) last announced its earnings results on Wednesday, May 8th. The shipping company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.05. The business had revenue of $106.30 million during the quarter, compared to analysts’ expectations of $72.46 million. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. Equities analysts predict that Ardmore Shipping will post 2.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ASC shares. Jefferies Financial Group upped their price objective on shares of Ardmore Shipping from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com raised Ardmore Shipping from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their price objective on Ardmore Shipping from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 19th.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.