-$0.10 EPS Expected for Ardmore Shipping Corp (ASC) This Quarter

Wall Street brokerages expect Ardmore Shipping Corp (NYSE:ASC) to post earnings per share of ($0.10) for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Ardmore Shipping’s earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.16). Ardmore Shipping reported earnings of ($0.06) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 66.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 1st.

According to Zacks, analysts expect that Ardmore Shipping will report full year earnings of ($0.07) per share for the current year, with EPS estimates ranging from ($0.27) to $0.12. For the next year, analysts expect that the company will post earnings of $0.77 per share, with EPS estimates ranging from $0.01 to $1.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings data on Wednesday, May 2nd. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Ardmore Shipping had a negative return on equity of 3.98% and a negative net margin of 7.88%. The business had revenue of $50.40 million for the quarter, compared to analyst estimates of $31.03 million. During the same quarter last year, the business earned ($0.06) EPS. Ardmore Shipping’s revenue for the quarter was up 1.4% compared to the same quarter last year.



ASC has been the topic of a number of research analyst reports. ValuEngine upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Zacks Investment Research cut Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Thursday, April 19th. Finally, JPMorgan Chase & Co. lifted their target price on Ardmore Shipping from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, March 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.42.

A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Ardmore Shipping by 73.1% in the first quarter. Russell Investments Group Ltd. now owns 3,463,434 shares of the shipping company’s stock valued at $26,322,000 after purchasing an additional 1,462,929 shares during the period. Bank of New York Mellon Corp raised its position in Ardmore Shipping by 81.4% in the fourth quarter. Bank of New York Mellon Corp now owns 946,541 shares of the shipping company’s stock valued at $7,571,000 after purchasing an additional 424,688 shares during the period. Private Management Group Inc. raised its position in Ardmore Shipping by 58.3% in the first quarter. Private Management Group Inc. now owns 625,968 shares of the shipping company’s stock valued at $4,757,000 after purchasing an additional 230,604 shares during the period. Dimensional Fund Advisors LP raised its position in Ardmore Shipping by 23.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,003,027 shares of the shipping company’s stock valued at $7,623,000 after purchasing an additional 191,155 shares during the period. Finally, Sei Investments Co. raised its position in Ardmore Shipping by 79.0% in the first quarter. Sei Investments Co. now owns 373,904 shares of the shipping company’s stock valued at $2,842,000 after purchasing an additional 165,015 shares during the period. Hedge funds and other institutional investors own 91.94% of the company’s stock.

Shares of ASC stock traded down $0.03 during mid-day trading on Thursday, hitting $7.50. 159,200 shares of the company’s stock were exchanged, compared to its average volume of 212,624. Ardmore Shipping has a fifty-two week low of $6.40 and a fifty-two week high of $9.05. The company has a quick ratio of 1.13, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $261.89 million, a price-to-earnings ratio of -20.27 and a beta of 0.94.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. 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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