Ardmore Shipping (ASC) Set to Announce Earnings on Wednesday

Ardmore Shipping (NYSE:ASCGet Rating) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, May 4th. Analysts expect the company to announce earnings of ($0.10) per share for the quarter.

Ardmore Shipping (NYSE:ASCGet Rating) last posted its earnings results on Tuesday, February 15th. The shipping company reported ($0.25) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.25). Ardmore Shipping had a negative net margin of 19.14% and a negative return on equity of 11.74%. The business had revenue of $27.87 million for the quarter, compared to analysts’ expectations of $29.55 million. During the same period in the prior year, the company posted ($0.39) EPS. On average, analysts expect Ardmore Shipping to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NYSE ASC traded down $0.13 on Thursday, hitting $6.20. The stock had a trading volume of 2,420 shares, compared to its average volume of 219,401. Ardmore Shipping has a 52-week low of $3.07 and a 52-week high of $6.44. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.42 and a current ratio of 1.61. The company has a market capitalization of $205.76 million, a price-to-earnings ratio of -5.54 and a beta of 0.64. The firm has a 50-day moving average of $4.71 and a 200-day moving average of $4.07.

Several large investors have recently modified their holdings of ASC. Morgan Stanley increased its holdings in shares of Ardmore Shipping by 119.8% in the 2nd quarter. Morgan Stanley now owns 70,291 shares of the shipping company’s stock worth $297,000 after buying an additional 38,307 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Ardmore Shipping during the 4th quarter valued at $79,000. Renaissance Technologies LLC bought a new position in shares of Ardmore Shipping during the 4th quarter valued at $63,000. BlackRock Inc. grew its holdings in shares of Ardmore Shipping by 4.5% during the 4th quarter. BlackRock Inc. now owns 392,529 shares of the shipping company’s stock valued at $1,327,000 after purchasing an additional 16,982 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Ardmore Shipping by 3.7% during the 4th quarter. Sei Investments Co. now owns 471,539 shares of the shipping company’s stock valued at $1,594,000 after purchasing an additional 16,671 shares during the last quarter. 60.11% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on ASC shares. Jefferies Financial Group started coverage on shares of Ardmore Shipping in a research note on Wednesday. They issued a “buy” rating and a $7.50 target price on the stock. Zacks Investment Research upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a research note on Tuesday. HC Wainwright increased their target price on shares of Ardmore Shipping from $5.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Finally, StockNews.com started coverage on shares of Ardmore Shipping in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.59.

Ardmore Shipping Company Profile (Get Rating)

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2022, the company operated a fleet of 25 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.

Further Reading

Earnings History for Ardmore Shipping (NYSE:ASC)

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