Ardmore Shipping Corp (ASC) Expected to Post Quarterly Sales of $31.90 Million

Wall Street brokerages expect Ardmore Shipping Corp (NYSE:ASC) to report sales of $31.90 million for the current quarter, Zacks reports. Seven analysts have made estimates for Ardmore Shipping’s earnings, with estimates ranging from $30.86 million to $33.60 million. Ardmore Shipping reported sales of $49.67 million during the same quarter last year, which indicates a negative year over year growth rate of 35.8%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Ardmore Shipping will report full year sales of $31.90 million for the current year, with estimates ranging from $136.00 million to $152.77 million. For the next year, analysts anticipate that the business will report sales of $171.44 million per share, with estimates ranging from $154.50 million to $183.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ardmore Shipping.

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

A number of equities research analysts recently weighed in on ASC shares. Zacks Investment Research cut Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Seaport Global Securities set a $12.00 price target on Ardmore Shipping and gave the stock a “buy” rating in a report on Thursday, January 4th. Jefferies Group started coverage on Ardmore Shipping in a report on Monday, December 18th. They issued a “buy” rating and a $11.00 price target on the stock. Stifel Nicolaus set a $9.00 price target on Ardmore Shipping and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, ValuEngine cut 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 assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.42.

Ardmore Shipping stock traded down $0.10 on Thursday, hitting $7.85. The company had a trading volume of 228,024 shares, compared to its average volume of 164,787. The firm has a market cap of $263.57, a PE ratio of -20.66 and a beta of 0.98. The company has a current ratio of 1.44, a quick ratio of 1.27 and a debt-to-equity ratio of 1.07. Ardmore Shipping has a 1-year low of $6.40 and a 1-year high of $9.05.

A number of large investors have recently made changes to their positions in ASC. Boston Partners grew its holdings in Ardmore Shipping by 59.7% during the 4th quarter. Boston Partners now owns 1,669,220 shares of the shipping company’s stock valued at $13,354,000 after buying an additional 623,752 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Ardmore Shipping by 81.4% during the 4th quarter. Bank of New York Mellon Corp now owns 946,541 shares of the shipping company’s stock valued at $7,571,000 after buying an additional 424,688 shares during the last quarter. Royce & Associates LP grew its holdings in Ardmore Shipping by 13.5% during the 3rd quarter. Royce & Associates LP now owns 1,945,525 shares of the shipping company’s stock valued at $16,051,000 after buying an additional 231,950 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Ardmore Shipping by 87.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 481,946 shares of the shipping company’s stock valued at $3,928,000 after buying an additional 225,514 shares during the last quarter. Finally, Private Management Group Inc. grew its holdings in Ardmore Shipping by 64.2% during the 4th quarter. Private Management Group Inc. now owns 395,364 shares of the shipping company’s stock valued at $3,163,000 after buying an additional 154,607 shares during the last quarter. Hedge funds and other institutional investors own 88.07% 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.

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

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