Ardmore Shipping Co. (NYSE:ASC) Expected to Announce Quarterly Sales of $24.75 Million

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Equities analysts predict that Ardmore Shipping Co. (NYSE:ASC) will report sales of $24.75 million for the current quarter, according to Zacks. Three analysts have provided estimates for Ardmore Shipping’s earnings. The highest sales estimate is $26.16 million and the lowest is $23.00 million. Ardmore Shipping reported sales of $41.53 million during the same quarter last year, which would suggest a negative year over year growth rate of 40.4%. The firm is scheduled to issue its next earnings results on Tuesday, May 4th.

According to Zacks, analysts expect that Ardmore Shipping will report full year sales of $115.58 million for the current year, with estimates ranging from $110.30 million to $123.99 million. For the next financial year, analysts expect that the business will report sales of $140.94 million, with estimates ranging from $137.04 million to $144.48 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Tuesday, February 9th. The shipping company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.05. The business had revenue of $21.84 million for the quarter, compared to analysts’ expectations of $24.99 million. Ardmore Shipping had a return on equity of 4.78% and a net margin of 6.45%.

A number of analysts recently weighed in on the stock. HC Wainwright initiated coverage on shares of Ardmore Shipping in a report on Monday, March 29th. They set a “neutral” rating and a $5.50 target price on the stock. Zacks Investment Research raised shares of Ardmore Shipping from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 31st. Finally, Jefferies Financial Group dropped their price objective on Ardmore Shipping from $6.00 to $5.50 and set a “buy” rating for the company in a research note on Friday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.63.

Shares of Ardmore Shipping stock traded down $0.13 on Monday, reaching $4.08. The stock had a trading volume of 181,524 shares, compared to its average volume of 345,513. The business’s 50 day moving average is $4.55 and its two-hundred day moving average is $3.63. The company has a current ratio of 1.66, a quick ratio of 1.50 and a debt-to-equity ratio of 1.08. Ardmore Shipping has a 1 year low of $2.98 and a 1 year high of $5.43. The company has a market cap of $135.40 million, a P/E ratio of 8.68 and a beta of 1.16.

A number of large investors have recently made changes to their positions in ASC. Private Management Group Inc. lifted its position in Ardmore Shipping by 34.8% in the 4th quarter. Private Management Group Inc. now owns 2,108,086 shares of the shipping company’s stock worth $6,893,000 after buying an additional 544,750 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ardmore Shipping in the 3rd quarter worth approximately $544,000. BlackRock Inc. boosted its stake in shares of Ardmore Shipping by 7.3% in the 3rd quarter. BlackRock Inc. now owns 2,088,740 shares of the shipping company’s stock valued at $7,436,000 after purchasing an additional 141,875 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Ardmore Shipping in the 3rd quarter valued at $395,000. Finally, AQR Capital Management LLC grew its holdings in shares of Ardmore Shipping by 111.4% during the 3rd quarter. AQR Capital Management LLC now owns 137,903 shares of the shipping company’s stock valued at $491,000 after purchasing an additional 72,657 shares during the last quarter. Institutional investors own 79.52% of the company’s stock.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2021, 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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