Ardmore Shipping (NYSE:ASC – Get Free Report) issued its quarterly earnings data on Wednesday. The shipping company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05, Zacks reports. The business had revenue of $121.30 million during the quarter, compared to analyst estimates of $80.51 million. Ardmore Shipping had a net margin of 29.15% and a return on equity of 21.06%. The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS.
Ardmore Shipping Stock Performance
ASC traded down $0.89 during midday trading on Thursday, reaching $20.79. The company had a trading volume of 866,536 shares, compared to its average volume of 683,722. The business has a 50-day moving average of $21.58 and a two-hundred day moving average of $18.56. The company has a quick ratio of 1.79, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Ardmore Shipping has a 1 year low of $11.78 and a 1 year high of $23.44. The company has a market cap of $844.70 million, a P/E ratio of 7.97 and a beta of 0.39.
Ardmore Shipping Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend is Friday, August 30th. Ardmore Shipping’s dividend payout ratio is presently 47.51%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on Ardmore Shipping
About Ardmore Shipping
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.
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