Ardmore Shipping Co. (NYSE:ASC) Expected to Announce Quarterly Sales of $33.61 Million

Wall Street analysts expect that Ardmore Shipping Co. (NYSE:ASCGet Rating) will announce $33.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Ardmore Shipping’s earnings, with estimates ranging from $31.41 million to $35.22 million. Ardmore Shipping posted sales of $25.16 million during the same quarter last year, which suggests a positive year-over-year growth rate of 33.6%. The firm is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Ardmore Shipping will report full year sales of $150.07 million for the current fiscal year, with estimates ranging from $139.18 million to $162.44 million. For the next fiscal year, analysts expect that the business will report sales of $145.85 million, with estimates ranging from $140.16 million to $151.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Ardmore Shipping.

Ardmore Shipping (NYSE:ASCGet Rating) last posted its quarterly earnings data on Tuesday, February 15th. The shipping company reported ($0.25) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.25). Ardmore Shipping had a negative return on equity of 11.74% and a negative net margin of 19.14%. The company had revenue of $27.87 million for the quarter, compared to the consensus estimate of $29.55 million. During the same period in the previous year, the business earned ($0.39) EPS.

ASC has been the topic of several analyst reports. TheStreet upgraded Ardmore Shipping from a “d+” rating to a “c-” rating in a report on Wednesday. HC Wainwright boosted their price target on Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a report on Friday, April 22nd. Zacks Investment Research upgraded Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Tuesday, April 26th. Jefferies Financial Group started coverage on Ardmore Shipping in a report on Wednesday. They issued a “buy” rating and a $7.50 price target for the company. Finally, StockNews.com started coverage on Ardmore Shipping in a report on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ardmore Shipping currently has a consensus rating of “Buy” and a consensus target price of $6.59.

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in Ardmore Shipping during the 4th quarter valued at approximately $63,000. Jump Financial LLC acquired a new position in Ardmore Shipping during the 3rd quarter valued at approximately $76,000. Marshall Wace LLP acquired a new position in Ardmore Shipping during the 4th quarter valued at approximately $79,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Ardmore Shipping during the 4th quarter worth $100,000. Finally, Institute for Wealth Management LLC. acquired a new position in Ardmore Shipping during the 1st quarter worth $140,000. Institutional investors and hedge funds own 60.11% of the company’s stock.

ASC stock opened at $6.23 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 1.15. Ardmore Shipping has a 52-week low of $3.07 and a 52-week high of $6.44. The stock’s 50 day moving average is $4.79 and its two-hundred day moving average is $4.10. The company has a market capitalization of $206.77 million, a PE ratio of -5.56 and a beta of 0.64.

About Ardmore Shipping (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.

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