Ardmore Shipping Corp Declares Quarterly Dividend of $0.05 (NYSE:ASC)

Ardmore Shipping Corp (NYSE:ASC) announced a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Investors of record on Friday, February 21st will be given a dividend of 0.05 per share by the shipping company on Friday, February 28th. This represents a $0.20 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, February 20th.

ASC opened at $6.11 on Friday. Ardmore Shipping has a 1-year low of $5.04 and a 1-year high of $9.79. The stock’s fifty day simple moving average is $7.32 and its 200 day simple moving average is $7.48. The company has a current ratio of 1.50, a quick ratio of 1.34 and a debt-to-equity ratio of 1.20. The stock has a market cap of $175.75 million, a PE ratio of -4.85 and a beta of 1.35.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Tuesday, February 11th. The shipping company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Ardmore Shipping had a negative net margin of 18.34% and a negative return on equity of 6.11%. The business had revenue of $38.08 million during the quarter, compared to the consensus estimate of $38.91 million. Equities analysts forecast that Ardmore Shipping will post -0.26 earnings per share for the current year.

A number of research firms recently weighed in on ASC. ValuEngine cut Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Thursday. Fearnley Fonds cut Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Stifel Nicolaus upgraded Ardmore Shipping from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Wednesday, January 22nd. TheStreet upgraded Ardmore Shipping from a “d+” rating to a “c-” rating in a research note on Wednesday, December 11th. Finally, Zacks Investment Research upgraded Ardmore Shipping from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.50.

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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Dividend History for Ardmore Shipping (NYSE:ASC)

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