Zacks: Brokerages Anticipate Ardmore Shipping Corp (NYSE:ASC) to Announce $0.16 Earnings Per Share

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Wall Street analysts forecast that Ardmore Shipping Corp (NYSE:ASC) will report earnings of $0.16 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Ardmore Shipping’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.15. Ardmore Shipping posted earnings of ($0.26) per share in the same quarter last year, which would suggest a positive year over year growth rate of 161.5%. The firm is scheduled to issue its next earnings report on Wednesday, February 5th.

According to Zacks, analysts expect that Ardmore Shipping will report full year earnings of ($0.20) per share for the current year. For the next financial year, analysts expect that the firm will post earnings of $0.77 per share, with EPS estimates ranging from $0.63 to $0.92. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Tuesday, November 5th. The shipping company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. Ardmore Shipping had a negative net margin of 18.34% and a negative return on equity of 6.11%. The business had revenue of $52.10 million during the quarter, compared to the consensus estimate of $29.98 million. During the same period in the previous year, the business earned ($0.37) earnings per share. The company’s revenue was up 6.5% on a year-over-year basis.

Several equities analysts have recently issued reports on ASC shares. Fearnley Fonds lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Zacks Investment Research upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus lowered Ardmore Shipping from a “buy” rating to a “hold” rating and raised their price objective for the company from $9.00 to $9.50 in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.33.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Ardmore Shipping by 3.5% in the 2nd quarter. BlackRock Inc. now owns 1,890,610 shares of the shipping company’s stock worth $15,408,000 after acquiring an additional 64,355 shares in the last quarter. Northern Trust Corp grew its stake in Ardmore Shipping by 1.8% during the second quarter. Northern Trust Corp now owns 850,140 shares of the shipping company’s stock worth $6,929,000 after purchasing an additional 15,190 shares during the period. State Street Corp increased its holdings in Ardmore Shipping by 7.5% in the third quarter. State Street Corp now owns 577,942 shares of the shipping company’s stock worth $3,866,000 after purchasing an additional 40,215 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Ardmore Shipping by 55.9% in the second quarter. Renaissance Technologies LLC now owns 467,698 shares of the shipping company’s stock worth $3,812,000 after purchasing an additional 167,700 shares in the last quarter. Finally, WealthTrust Axiom LLC lifted its stake in Ardmore Shipping by 20.1% in the third quarter. WealthTrust Axiom LLC now owns 240,530 shares of the shipping company’s stock valued at $1,609,000 after buying an additional 40,250 shares during the period. Institutional investors own 88.80% of the company’s stock.

Shares of ASC stock traded up $0.27 during trading hours on Friday, reaching $8.33. The company’s stock had a trading volume of 169,615 shares, compared to its average volume of 210,993. The firm’s 50 day simple moving average is $8.25 and its 200-day simple moving average is $7.40. Ardmore Shipping has a fifty-two week low of $4.22 and a fifty-two week high of $9.79. The company has a current ratio of 1.50, a quick ratio of 1.34 and a debt-to-equity ratio of 1.20.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.

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

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