$33.00 Million in Sales Expected for Ardmore Shipping Corp (NYSE:ASC) This Quarter

Equities analysts expect Ardmore Shipping Corp (NYSE:ASC) to report sales of $33.00 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Ardmore Shipping’s earnings. The lowest sales estimate is $30.53 million and the highest is $35.05 million. Ardmore Shipping posted sales of $28.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17%. The firm is expected to report its next quarterly earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Ardmore Shipping will report full year sales of $153.32 million for the current year, with estimates ranging from $140.82 million to $181.61 million. For the next financial year, analysts forecast that the company will post sales of $162.32 million, with estimates ranging from $156.18 million to $169.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Wednesday, May 1st. The shipping company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The business had revenue of $62.30 million for the quarter, compared to the consensus estimate of $33.04 million. Ardmore Shipping had a negative return on equity of 8.92% and a negative net margin of 21.14%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) EPS.

Several analysts have weighed in on the company. Zacks Investment Research downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Pareto Securities downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. ValuEngine upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Morgan Stanley set a $8.00 price target on Ardmore Shipping and gave the company a “hold” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.68.

Institutional investors have recently bought and sold shares of the business. Adirondack Research & Management Inc. raised its position in shares of Ardmore Shipping by 1.0% during the 1st quarter. Adirondack Research & Management Inc. now owns 398,837 shares of the shipping company’s stock worth $2,457,000 after purchasing an additional 4,000 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Ardmore Shipping by 125.3% during the 1st quarter. Kennedy Capital Management Inc. now owns 225,317 shares of the shipping company’s stock worth $1,388,000 after purchasing an additional 125,317 shares during the last quarter. Private Management Group Inc. raised its position in shares of Ardmore Shipping by 2.4% during the 1st quarter. Private Management Group Inc. now owns 848,865 shares of the shipping company’s stock worth $5,229,000 after purchasing an additional 20,215 shares during the last quarter. Schneider Capital Management Corp raised its position in shares of Ardmore Shipping by 0.6% during the 1st quarter. Schneider Capital Management Corp now owns 722,798 shares of the shipping company’s stock worth $4,452,000 after purchasing an additional 3,977 shares during the last quarter. Finally, WealthTrust Axiom LLC raised its position in shares of Ardmore Shipping by 1.7% during the 1st quarter. WealthTrust Axiom LLC now owns 153,100 shares of the shipping company’s stock worth $943,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Ardmore Shipping stock traded up $0.90 during trading hours on Wednesday, hitting $8.15. 1,081,768 shares of the stock traded hands, compared to its average volume of 192,781. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.37 and a current ratio of 1.56. The firm’s 50 day moving average price is $7.00. Ardmore Shipping has a 1 year low of $4.22 and a 1 year high of $8.65.

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.

Further Reading: Using the New Google Finance Tool

Get a free copy of the Zacks research report on Ardmore Shipping (ASC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ardmore Shipping (NYSE:ASC)

Receive News & Ratings for Ardmore Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping and related companies with MarketBeat.com's FREE daily email newsletter.