Ardmore Shipping Corp Forecasted to Earn Q1 2020 Earnings of $0.09 Per Share (NYSE:ASC)

Ardmore Shipping Corp (NYSE:ASC) – Equities research analysts at Jefferies Financial Group cut their Q1 2020 earnings per share (EPS) estimates for Ardmore Shipping in a research note issued on Tuesday, February 11th. Jefferies Financial Group analyst R. Giveans now expects that the shipping company will earn $0.09 per share for the quarter, down from their previous estimate of $0.10. Jefferies Financial Group also issued estimates for Ardmore Shipping’s Q2 2020 earnings at $0.12 EPS.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Tuesday, February 11th. The shipping company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). Ardmore Shipping had a negative return on equity of 6.11% and a negative net margin of 18.34%. The business had revenue of $38.08 million for the quarter, compared to analyst estimates of $38.91 million.

ASC has been the subject of a number of other reports. ValuEngine lowered Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Thursday. Fearnley Fonds lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Stifel Nicolaus upgraded Ardmore Shipping from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Wednesday, January 22nd. Zacks Investment Research lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Friday. Finally, TheStreet upgraded Ardmore Shipping from a “d+” rating to a “c-” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $8.50.

Shares of NYSE ASC opened at $6.73 on Friday. Ardmore Shipping has a one year low of $5.04 and a one year high of $9.79. The firm has a market capitalization of $175.75 million, a PE ratio of -5.34 and a beta of 1.35. The company has a current ratio of 1.50, a quick ratio of 1.34 and a debt-to-equity ratio of 1.20. The business has a 50-day moving average price of $7.27 and a two-hundred day moving average price of $7.48.

A number of hedge funds and other institutional investors have recently made changes to their positions in ASC. BlackRock Inc. lifted its holdings in shares of Ardmore Shipping by 3.5% during the 2nd quarter. BlackRock Inc. now owns 1,890,610 shares of the shipping company’s stock valued at $15,408,000 after buying an additional 64,355 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Ardmore Shipping by 3.0% during the 4th quarter. Royce & Associates LP now owns 1,515,522 shares of the shipping company’s stock valued at $13,715,000 after buying an additional 44,441 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Ardmore Shipping by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 907,598 shares of the shipping company’s stock valued at $8,214,000 after buying an additional 232,100 shares during the last quarter. Signia Capital Management LLC lifted its holdings in shares of Ardmore Shipping by 87.5% during the 4th quarter. Signia Capital Management LLC now owns 632,965 shares of the shipping company’s stock valued at $5,728,000 after buying an additional 295,294 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Ardmore Shipping by 5.8% during the 4th quarter. State Street Corp now owns 611,745 shares of the shipping company’s stock valued at $5,536,000 after buying an additional 33,803 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.20 dividend on an annualized basis and a yield of 2.97%.

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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