Ardmore Shipping (ASC) Scheduled to Post Earnings on Wednesday

Ardmore Shipping (NYSE:ASCGet Free Report) 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:ASCGet Free Report) 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.

Read Our Latest Report on Ardmore Shipping

About Ardmore Shipping

(Get Free Report)

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.

Recommended Stories

Earnings History for Ardmore Shipping (NYSE:ASC)

Receive News & Ratings for Ardmore Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping and related companies with MarketBeat.com's FREE daily email newsletter.