Zacks: Analysts Expect Ardmore Shipping Corp (ASC) to Post -$0.07 Earnings Per Share

Equities analysts expect Ardmore Shipping Corp (NYSE:ASC) to announce earnings per share (EPS) of ($0.07) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Ardmore Shipping’s earnings. The lowest EPS estimate is ($0.13) and the highest is ($0.03). Ardmore Shipping reported earnings per share of ($0.25) in the same quarter last year, which would indicate a positive year-over-year growth rate of 72%. The company is expected to announce its next earnings report on Tuesday, July 30th.

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 ($0.42) to $0.22. For the next fiscal year, analysts expect that the company will post earnings of $0.59 per share, with EPS estimates ranging from $0.06 to $0.78. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Wednesday, May 1st. The shipping company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. The business had revenue of $62.30 million during the quarter, compared to the consensus estimate of $33.04 million. Ardmore Shipping had a negative return on equity of 8.92% and a negative net margin of 21.14%. Ardmore Shipping’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) earnings per share.



Several analysts have recently weighed in on the company. Morgan Stanley set a $8.00 price target on Ardmore Shipping and gave the stock a “hold” rating in a report on Thursday, May 2nd. Zacks Investment Research raised Ardmore Shipping from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Monday, May 6th. Finally, ValuEngine raised Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Friday, March 1st.

Ardmore Shipping stock traded down $0.12 during midday trading on Thursday, reaching $7.23. The company’s stock had a trading volume of 2,912 shares, compared to its average volume of 159,295. Ardmore Shipping has a 52 week low of $4.22 and a 52 week high of $8.65. The company has a quick ratio of 1.37, a current ratio of 1.56 and a debt-to-equity ratio of 1.21. The stock has a market cap of $251.87 million, a PE ratio of -6.93 and a beta of 1.23.

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in Ardmore Shipping by 102.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 23,553 shares of the shipping company’s stock worth $145,000 after acquiring an additional 11,897 shares during the last quarter. Kennedy Capital Management Inc. raised its stake in Ardmore Shipping by 125.3% in the 1st quarter. Kennedy Capital Management Inc. now owns 225,317 shares of the shipping company’s stock worth $1,388,000 after acquiring an additional 125,317 shares during the last quarter. OppenheimerFunds Inc. raised its stake in Ardmore Shipping by 16.1% in the 1st quarter. OppenheimerFunds Inc. now owns 50,402 shares of the shipping company’s stock worth $310,000 after acquiring an additional 7,000 shares during the last quarter. Private Management Group Inc. raised its stake in Ardmore Shipping by 2.4% in the 1st quarter. Private Management Group Inc. now owns 848,865 shares of the shipping company’s stock worth $5,229,000 after acquiring an additional 20,215 shares during the last quarter. Finally, Schneider Capital Management Corp raised its stake in Ardmore Shipping by 0.6% in the 1st quarter. Schneider Capital Management Corp now owns 722,798 shares of the shipping company’s stock worth $4,452,000 after acquiring an additional 3,977 shares during the last quarter. Institutional investors own 88.38% 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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