Analysts Expect Ardmore Shipping Corp (ASC) Will Post Earnings of -$0.31 Per Share
Wall Street brokerages forecast that Ardmore Shipping Corp (NYSE:ASC) will announce ($0.31) earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have provided estimates for Ardmore Shipping’s earnings, with estimates ranging from ($0.36) to ($0.26). Ardmore Shipping posted earnings per share of ($0.14) during the same quarter last year, which indicates a negative year over year growth rate of 121.4%. The company is scheduled to announce its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Ardmore Shipping will report full-year earnings of ($0.72) per share for the current fiscal year, with EPS estimates ranging from ($0.91) to ($0.53). For the next financial year, analysts forecast that the business will post earnings of $0.34 per share, with EPS estimates ranging from ($0.05) to $0.89. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last announced its earnings results on Tuesday, July 31st. The shipping company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01). Ardmore Shipping had a negative return on equity of 5.70% and a negative net margin of 11.15%. The company had revenue of $28.20 million for the quarter, compared to analyst estimates of $28.44 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Ardmore Shipping’s revenue for the quarter was down 11.1% on a year-over-year basis.
Large investors have recently modified their holdings of the business. Boston Partners increased its position in shares of Ardmore Shipping by 2.8% during the first quarter. Boston Partners now owns 1,715,510 shares of the shipping company’s stock worth $13,038,000 after acquiring an additional 46,290 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Ardmore Shipping by 26.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 58,600 shares of the shipping company’s stock worth $446,000 after acquiring an additional 12,100 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its holdings in Ardmore Shipping by 2.5% during the first quarter. Eagle Boston Investment Management Inc. now owns 1,098,095 shares of the shipping company’s stock worth $8,345,000 after purchasing an additional 27,002 shares during the last quarter. Northern Trust Corp boosted its holdings in Ardmore Shipping by 1.5% during the first quarter. Northern Trust Corp now owns 878,622 shares of the shipping company’s stock worth $6,677,000 after purchasing an additional 12,587 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Ardmore Shipping by 5.1% during the first quarter. BlackRock Inc. now owns 1,358,868 shares of the shipping company’s stock worth $10,327,000 after purchasing an additional 66,213 shares during the last quarter. 88.18% of the stock is owned by hedge funds and other institutional investors.
Shares of ASC stock traded up $0.05 during trading hours on Friday, reaching $6.80. 52,895 shares of the company were exchanged, compared to its average volume of 109,874. Ardmore Shipping has a fifty-two week low of $6.40 and a fifty-two week high of $9.05. The firm has a market capitalization of $225.07 million, a price-to-earnings ratio of -18.38 and a beta of 0.83. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 1.10.
Ardmore Shipping Company Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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