Ardmore Shipping (NYSE:ASC) will announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.09) per share for the quarter.
Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Wednesday, February 6th. The shipping company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.02). Ardmore Shipping had a negative return on equity of 9.38% and a negative net margin of 20.43%. The business had revenue of $58.40 million during the quarter, compared to analyst estimates of $30.45 million. During the same quarter last year, the firm posted ($0.12) EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts expect Ardmore Shipping to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
NYSE ASC opened at $7.02 on Friday. Ardmore Shipping has a twelve month low of $4.22 and a twelve month high of $8.75. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.28 and a current ratio of 1.45. The company has a market cap of $236.32 million, a price-to-earnings ratio of -6.75 and a beta of 1.18.
An institutional investor recently raised its position in Ardmore Shipping stock. Geode Capital Management LLC boosted its position in shares of Ardmore Shipping Corp (NYSE:ASC) by 7.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,534 shares of the shipping company’s stock after purchasing an additional 8,045 shares during the period. Geode Capital Management LLC owned 0.36% of Ardmore Shipping worth $548,000 at the end of the most recent reporting period. 88.41% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on ASC. Zacks Investment Research cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. ValuEngine upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Morgan Stanley set a $7.00 price objective on shares of Ardmore Shipping and gave the stock a “hold” rating in a research report on Friday, February 15th.
Ardmore Shipping Company Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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