Ardmore Shipping (ASC) Scheduled to Post Earnings on Wednesday

Ardmore Shipping (NYSE:ASC) will post its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect Ardmore Shipping to post earnings of $0.80 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Ardmore Shipping (NYSE:ASC) last posted its earnings results on Wednesday, July 31st. The shipping company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Ardmore Shipping had a net margin of 36.31% and a return on equity of 24.26%. The company had revenue of $121.30 million during the quarter, compared to analyst estimates of $80.51 million. During the same period in the prior year, the business posted $0.57 earnings per share. Ardmore Shipping’s revenue for the quarter was up 32.0% on a year-over-year basis. On average, analysts expect Ardmore Shipping to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ardmore Shipping Trading Down 1.8 %

NYSE ASC opened at $14.16 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 3.50. Ardmore Shipping has a fifty-two week low of $12.69 and a fifty-two week high of $23.44. The stock has a market cap of $575.28 million, a P/E ratio of 5.43 and a beta of 0.35. The stock has a 50 day simple moving average of $17.47 and a two-hundred day simple moving average of $19.37.

Wall Street Analyst Weigh In

ASC has been the subject of several research reports. Jefferies Financial Group increased their target price on Ardmore Shipping from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Fearnley Fonds raised shares of Ardmore Shipping to a “hold” rating in a research report on Friday, September 27th. StockNews.com lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Evercore ISI raised their target price on shares of Ardmore Shipping from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating and lowered their target price for the company from $24.00 to $17.00 in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.33.

About Ardmore Shipping

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.