Analysts expect Ardmore Shipping (NYSE:ASC) to announce earnings per share (EPS) of ($0.10) for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Ardmore Shipping’s earnings, with estimates ranging from ($0.16) to ($0.07). Ardmore Shipping posted earnings of ($0.06) per share in the same quarter last year, which would suggest a negative year over year growth rate of 66.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 1st.

According to Zacks, analysts expect that Ardmore Shipping will report full year earnings of ($0.07) per share for the current fiscal year, with EPS estimates ranging from ($0.27) to $0.12. For the next financial year, analysts forecast that the business will post earnings of $0.77 per share, with EPS estimates ranging from $0.01 to $1.35. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings data on Wednesday, May 2nd. The shipping company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.01). The company had revenue of $50.40 million for the quarter, compared to analyst estimates of $31.03 million. Ardmore Shipping had a negative return on equity of 3.98% and a negative net margin of 7.88%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) earnings per share.

A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Monday, May 7th. Zacks Investment Research cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Thursday, April 19th. JPMorgan Chase increased their target price on shares of Ardmore Shipping from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, March 23rd. Finally, Stifel Nicolaus set a $9.00 target price on shares of Ardmore Shipping and gave the company a “buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Ardmore Shipping presently has an average rating of “Hold” and a consensus target price of $10.42.

Ardmore Shipping traded down $0.25, reaching $8.05, during trading hours on Friday, Marketbeat reports. 8,306 shares of the company were exchanged, compared to its average volume of 219,366. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.13 and a current ratio of 1.31. The stock has a market capitalization of $282.04 million, a PE ratio of -22.43 and a beta of 0.94. Ardmore Shipping has a twelve month low of $8.10 and a twelve month high of $8.30.

Hedge funds and other institutional investors have recently modified their holdings of the company. A.R.T. Advisors LLC acquired a new stake in shares of Ardmore Shipping in the first quarter valued at about $117,000. Citadel Advisors LLC acquired a new stake in shares of Ardmore Shipping in the first quarter valued at about $138,000. Two Sigma Securities LLC acquired a new stake in shares of Ardmore Shipping in the fourth quarter valued at about $203,000. Schwab Charles Investment Management Inc. raised its position in shares of Ardmore Shipping by 26.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 58,600 shares of the shipping company’s stock valued at $446,000 after buying an additional 12,100 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Ardmore Shipping by 13.3% in the first quarter. OppenheimerFunds Inc. now owns 65,868 shares of the shipping company’s stock valued at $501,000 after buying an additional 7,735 shares during the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. 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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