Equities research analysts expect Ardmore Shipping Corp (NYSE:ASC) to announce earnings of $0.16 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Ardmore Shipping’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.17. Ardmore Shipping reported earnings of ($0.26) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 161.5%. The business is expected to issue its next quarterly earnings results on Wednesday, February 5th.

On average, analysts expect that Ardmore Shipping will report full-year earnings of ($0.20) per share for the current year. For the next year, analysts expect that the company will post earnings of $0.77 per share, with EPS estimates ranging from $0.63 to $0.92. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Ardmore Shipping.

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

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

Shares of NYSE ASC traded up $0.27 during midday trading on Friday, reaching $8.33. 169,615 shares of the stock were exchanged, compared to its average volume of 210,993. Ardmore Shipping has a twelve month low of $4.22 and a twelve month high of $9.79. The firm has a 50-day simple moving average of $8.25 and a two-hundred day simple moving average of $7.40. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.50 and a quick ratio of 1.34.

Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in Ardmore Shipping by 5.8% during the third quarter. Rhumbline Advisers now owns 49,725 shares of the shipping company’s stock worth $333,000 after purchasing an additional 2,724 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Ardmore Shipping by 17,931.6% during the 2nd quarter. Bank of Montreal Can now owns 3,426 shares of the shipping company’s stock valued at $28,000 after buying an additional 3,407 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ardmore Shipping by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 81,020 shares of the shipping company’s stock valued at $660,000 after buying an additional 3,958 shares in the last quarter. California State Teachers Retirement System grew its stake in Ardmore Shipping by 8.0% in the 3rd quarter. California State Teachers Retirement System now owns 54,125 shares of the shipping company’s stock valued at $362,000 after acquiring an additional 4,005 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Ardmore Shipping by 7.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,072 shares of the shipping company’s stock valued at $572,000 after acquiring an additional 4,782 shares during the period. Hedge funds and other institutional investors own 88.80% of the company’s stock.

About Ardmore Shipping

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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