Brokerages expect Ardmore Shipping Corp (NYSE:ASC) to report sales of $26.86 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ardmore Shipping’s earnings. The highest sales estimate is $27.91 million and the lowest is $25.70 million. Ardmore Shipping posted sales of $30.35 million during the same quarter last year, which suggests a negative year over year growth rate of 11.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Ardmore Shipping will report full-year sales of $126.96 million for the current fiscal year, with estimates ranging from $120.37 million to $141.30 million. For the next fiscal year, analysts anticipate that the firm will post sales of $156.42 million per share, with estimates ranging from $148.79 million to $171.97 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Tuesday, July 31st. The shipping company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.01). Ardmore Shipping had a negative return on equity of 5.70% and a negative net margin of 11.15%. The company had revenue of $28.20 million during the quarter, compared to the consensus estimate of $28.44 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis.

Several research analysts have recently issued reports on ASC shares. Zacks Investment Research lowered Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Thursday, April 19th. ValuEngine lowered Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Finally, Morgan Stanley reduced their price target on Ardmore Shipping from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.25.

Shares of Ardmore Shipping traded up $0.10, hitting $6.65, during midday trading on Wednesday, Marketbeat.com reports. The company had a trading volume of 170,965 shares, compared to its average volume of 212,039. Ardmore Shipping has a 12 month low of $6.40 and a 12 month high of $9.05. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $216.56 million, a P/E ratio of -17.97 and a beta of 0.82.

A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in Ardmore Shipping by 73.1% during the 1st quarter. Russell Investments Group Ltd. now owns 3,463,434 shares of the shipping company’s stock worth $26,322,000 after buying an additional 1,462,929 shares during the period. Donald Smith & CO. Inc. raised its stake in Ardmore Shipping by 5.2% during the 1st quarter. Donald Smith & CO. Inc. now owns 3,223,640 shares of the shipping company’s stock worth $24,500,000 after buying an additional 160,378 shares during the period. Boston Partners raised its stake in Ardmore Shipping by 2.8% during the 1st quarter. Boston Partners now owns 1,715,510 shares of the shipping company’s stock worth $13,038,000 after buying an additional 46,290 shares during the period. BlackRock Inc. raised its stake in Ardmore Shipping by 16.6% during the 2nd quarter. BlackRock Inc. now owns 1,584,561 shares of the shipping company’s stock worth $12,994,000 after buying an additional 225,693 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Ardmore Shipping by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,491,417 shares of the shipping company’s stock worth $12,230,000 after buying an additional 65,753 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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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