Analysts Expect Ardmore Shipping Corp (NYSE:ASC) Will Announce Quarterly Sales of $33.00 Million

Analysts forecast that Ardmore Shipping Corp (NYSE:ASC) will post $33.00 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Ardmore Shipping’s earnings, with the highest sales estimate coming in at $35.05 million and the lowest estimate coming in at $30.53 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 company is scheduled to report its next 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 year, analysts expect that the company will report sales of $162.32 million, with estimates ranging from $156.18 million to $169.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Ardmore Shipping.

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

ASC has been the topic of several research analyst reports. ValuEngine upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research lowered shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Morgan Stanley set a $8.00 price target on shares of Ardmore Shipping and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Finally, Pareto Securities lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $8.68.

Shares of NYSE:ASC opened at $6.72 on Wednesday. The stock’s fifty day moving average is $7.02. Ardmore Shipping has a 12 month low of $4.22 and a 12 month high of $8.65. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.56 and a quick ratio of 1.37. The firm has a market cap of $213.81 million, a price-to-earnings ratio of -6.46 and a beta of 1.10.

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in Ardmore Shipping by 22.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,124,098 shares of the shipping company’s stock worth $9,919,000 after purchasing an additional 393,054 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Ardmore Shipping by 18.5% in the fourth quarter. BlackRock Inc. now owns 1,903,432 shares of the shipping company’s stock valued at $8,889,000 after acquiring an additional 296,893 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ardmore Shipping by 14.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,680,982 shares of the shipping company’s stock valued at $7,850,000 after acquiring an additional 210,973 shares in the last quarter. Private Management Group Inc. boosted its holdings in shares of Ardmore Shipping by 2.4% in the first quarter. Private Management Group Inc. now owns 848,865 shares of the shipping company’s stock valued at $5,229,000 after acquiring an additional 20,215 shares in the last quarter. Finally, Schneider Capital Management Corp boosted its holdings in shares of Ardmore Shipping by 0.6% in the first quarter. Schneider Capital Management Corp now owns 722,798 shares of the shipping company’s stock valued at $4,452,000 after acquiring an additional 3,977 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

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

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