Equities analysts expect Ardmore Shipping Corporation (NYSE:ASC) to post sales of $31.20 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Ardmore Shipping Corporation’s earnings. The lowest sales estimate is $29.00 million and the highest is $34.39 million. Ardmore Shipping Corporation posted sales of $37.97 million during the same quarter last year, which suggests a negative year over year growth rate of 17.8%. The firm is expected to report its next earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that Ardmore Shipping Corporation will report full-year sales of $31.20 million for the current year, with estimates ranging from $123.00 million to $143.73 million. For the next fiscal year, analysts forecast that the firm will post sales of $160.59 million per share, with estimates ranging from $137.00 million to $181.88 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ardmore Shipping Corporation.

Ardmore Shipping Corporation (NYSE:ASC) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $49.85 million for the quarter, compared to analyst estimates of $31.73 million. Ardmore Shipping Corporation had a negative return on equity of 2.35% and a negative net margin of 6.92%. The business’s revenue was up 25.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS.

Several equities analysts have issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Ardmore Shipping Corporation in a research report on Monday. Zacks Investment Research upgraded Ardmore Shipping Corporation from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Tuesday, October 3rd. ValuEngine upgraded Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Stifel Nicolaus set a $10.00 target price on Ardmore Shipping Corporation and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, BidaskClub upgraded Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.25.

Several hedge funds have recently added to or reduced their stakes in ASC. Parametric Portfolio Associates LLC grew its stake in shares of Ardmore Shipping Corporation by 0.3% during the first quarter. Parametric Portfolio Associates LLC now owns 170,457 shares of the shipping company’s stock worth $1,372,000 after purchasing an additional 481 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Ardmore Shipping Corporation by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 119,695 shares of the shipping company’s stock worth $975,000 after purchasing an additional 762 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Ardmore Shipping Corporation by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock worth $255,000 after purchasing an additional 1,306 shares during the period. Geode Capital Management LLC grew its stake in shares of Ardmore Shipping Corporation by 1.2% during the first quarter. Geode Capital Management LLC now owns 222,153 shares of the shipping company’s stock worth $1,788,000 after purchasing an additional 2,530 shares during the period. Finally, Nationwide Fund Advisors grew its stake in shares of Ardmore Shipping Corporation by 15.8% during the first quarter. Nationwide Fund Advisors now owns 20,423 shares of the shipping company’s stock worth $164,000 after purchasing an additional 2,792 shares during the period. Institutional investors own 76.52% of the company’s stock.

Shares of Ardmore Shipping Corporation (NYSE ASC) traded down 2.79% during midday trading on Friday, reaching $8.70. The company’s stock had a trading volume of 206,093 shares. The stock has a 50 day moving average price of $8.13 and a 200-day moving average price of $7.82. The company’s market capitalization is $292.10 million. Ardmore Shipping Corporation has a 52-week low of $5.00 and a 52-week high of $9.05.

Ardmore Shipping Corporation announced that its board has authorized a share repurchase program on Thursday, August 31st that permits the company to buyback $25.00 million in shares. This buyback authorization permits the shipping company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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Ardmore Shipping Corporation Company Profile

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 Corporation (NYSE:ASC)

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