Ardmore Shipping Corporation (ASC) To Go Ex-Dividend on November 27th

Ardmore Shipping Corporation (NYSE:ASC) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, November 27th will be given a dividend of $0.27 per share by the shipping company on Tuesday, December 15th. This represents a $1.08 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Friday, November 27th. This is a 65.8% decrease from Ardmore Shipping’s previous quarterly dividend of $0.79.

Ardmore Shipping has raised its dividend payment by an average of 0.4% annually over the last three years. Ardmore Shipping has a payout ratio of 85.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Ardmore Shipping Stock Performance

ASC stock opened at $18.43 on Thursday. Ardmore Shipping has a 1-year low of $10.31 and a 1-year high of $21.34. The company has a current ratio of 5.45, a quick ratio of 4.84 and a debt-to-equity ratio of 0.05. The firm has a market cap of $750.55 million, a PE ratio of 6.85 and a beta of 0.15. The business’s 50-day moving average price is $18.85 and its two-hundred day moving average price is $16.65.

Ardmore Shipping (NYSE:ASC) last announced its earnings results on Tuesday, November 3rd. The shipping company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Ardmore Shipping had a net margin of 30.11% and a return on equity of 15.51%. The firm had revenue of $87.71 million during the quarter, compared to analyst estimates of $56.67 million.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ASC shares. Weiss Ratings upgraded shares of Ardmore Shipping from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 22nd. Wall Street Zen downgraded Ardmore Shipping from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Evercore restated an “outperform” rating and issued a $22.00 price target on shares of Ardmore Shipping in a research note on Tuesday, October 27th. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $22.00.

About Ardmore Shipping

Ardmore Shipping Corporation (NYSE: ASC) is a maritime transportation company that owns and operates a fleet of product and chemical tankers. The company provides seaborne transportation services for refined petroleum products, such as gasoline, diesel and jet fuel, as well as certain chemicals and other liquid cargoes.

Ardmore’s vessels primarily serve international trade routes, transporting cargoes between major energy and industrial markets. Its operations include commercial management, chartering and technical management of its fleet, with an emphasis on safe, efficient and environmentally responsible maritime transportation.

Founded in 2010, Ardmore Shipping is headquartered in Hamilton, Bermuda.