Ardmore Shipping Corp. (NYSE:ASC) – Equities research analysts at Seaport Global Securities cut their Q1 2017 earnings per share estimates for shares of Ardmore Shipping Corp. in a report released on Tuesday. Seaport Global Securities analyst M. Fyhr now anticipates that the brokerage will post earnings per share of $0.22 for the quarter, down from their prior estimate of $0.28. Seaport Global Securities also issued estimates for Ardmore Shipping Corp.’s Q2 2017 earnings at $0.23 EPS, Q3 2017 earnings at $0.24 EPS and Q4 2017 earnings at $0.25 EPS.

Ardmore Shipping Corp. (NYSE:ASC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. Ardmore Shipping Corp. had a return on equity of 8.47% and a net margin of 18.12%. The company earned $39.70 million during the quarter, compared to analyst estimates of $32.49 million. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis.

Earnings History and Estimates for Ardmore Shipping Corp. (NYSE:ASC)

A number of other research firms have also weighed in on ASC. Deutsche Bank AG reissued a “buy” rating and set a $11.00 target price on shares of Ardmore Shipping Corp. in a report on Wednesday, June 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ardmore Shipping Corp. in a report on Tuesday, August 16th. Zacks Investment Research lowered Ardmore Shipping Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 15th. Jefferies Group reaffirmed a “buy” rating on shares of Ardmore Shipping Corp. in a report on Monday, August 22nd. Finally, Morgan Stanley lowered Ardmore Shipping Corp. from an “overweight” rating to an “equal weight” rating and set a $8.00 price objective on the stock. in a report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of C$12.63.

Shares of Ardmore Shipping Corp. (NYSE:ASC) traded down 2.847% during mid-day trading on Wednesday, hitting $6.655. The stock had a trading volume of 276,746 shares. The stock’s 50-day moving average price is $7.13 and its 200 day moving average price is $7.98. The company has a market capitalization of $222.87 million, a P/E ratio of 5.635 and a beta of 1.30. Ardmore Shipping Corp. has a 1-year low of $6.46 and a 1-year high of $15.03.

Several hedge funds have recently made changes to their positions in ASC. Aristotle Capital Boston LLC increased its stake in shares of Ardmore Shipping Corp. by 24.2% in the second quarter. Aristotle Capital Boston LLC now owns 674,500 shares of the company’s stock valued at $4,566,000 after buying an additional 131,256 shares in the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of Ardmore Shipping Corp. by 8.9% in the first quarter. Clear Harbor Asset Management LLC now owns 40,193 shares of the company’s stock valued at $340,000 after buying an additional 3,268 shares in the last quarter. Monarch Partners Asset Management LLC increased its stake in shares of Ardmore Shipping Corp. by 110.8% in the second quarter. Monarch Partners Asset Management LLC now owns 48,270 shares of the company’s stock valued at $327,000 after buying an additional 25,370 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Ardmore Shipping Corp. by 10.0% in the first quarter. Royal Bank of Canada now owns 53,032 shares of the company’s stock valued at $448,000 after buying an additional 4,800 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Ardmore Shipping Corp. by 33.1% in the first quarter. Royce & Associates LP now owns 1,782,503 shares of the company’s stock valued at $15,062,000 after buying an additional 443,000 shares in the last quarter. Institutional investors and hedge funds own 63.25% of the company’s stock.

About Ardmore Shipping Corp.

Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.

5 Day Chart for NYSE:ASC

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