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.

A number of research firms recently weighed in on ASC. ValuEngine raised shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. Zacks Investment Research raised shares of Ardmore Shipping from a “strong sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Morgan Stanley dropped their price target on shares of Ardmore Shipping from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Ardmore Shipping currently has a consensus rating of “Hold” and an average target price of $10.25.

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.

See Also: Technical Analysis of Stocks, How Can It Help

Get a free copy of the Zacks research report on Ardmore Shipping (ASC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ardmore Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping and related companies with MarketBeat.com's FREE daily email newsletter.