Equities research analysts predict that Ardmore Shipping Corp (NYSE:ASC) will announce $31.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Ardmore Shipping’s earnings. The lowest sales estimate is $30.86 million and the highest is $33.60 million. Ardmore Shipping reported sales of $49.67 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 35.8%. The company is expected to announce its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Ardmore Shipping will report full year sales of $31.90 million for the current financial year, with estimates ranging from $136.00 million to $152.77 million. For the next financial year, analysts forecast that the business will post sales of $171.44 million per share, with estimates ranging from $154.50 million to $183.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Wednesday, February 7th. The shipping company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. Ardmore Shipping had a negative return on equity of 3.16% and a negative net margin of 6.37%. The firm had revenue of $30.23 million for the quarter, compared to analyst estimates of $30.24 million. During the same period in the prior year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ASC. Boston Partners grew its holdings in shares of Ardmore Shipping by 59.7% during the 4th quarter. Boston Partners now owns 1,669,220 shares of the shipping company’s stock worth $13,354,000 after purchasing an additional 623,752 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of Ardmore Shipping during the 3rd quarter worth $4,592,000. Northern Trust Corp lifted its position in shares of Ardmore Shipping by 88.7% during the 2nd quarter. Northern Trust Corp now owns 919,286 shares of the shipping company’s stock worth $7,492,000 after buying an additional 432,042 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Ardmore Shipping by 81.4% during the 4th quarter. Bank of New York Mellon Corp now owns 946,541 shares of the shipping company’s stock worth $7,571,000 after buying an additional 424,688 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of Ardmore Shipping by 13.5% during the 3rd quarter. Royce & Associates LP now owns 1,945,525 shares of the shipping company’s stock worth $16,051,000 after buying an additional 231,950 shares during the last quarter. 88.34% of the stock is currently owned by institutional investors.
Ardmore Shipping (NYSE:ASC) traded down $0.18 on Monday, hitting $7.72. The stock had a trading volume of 34,411 shares, compared to its average volume of 254,348. The firm has a market cap of $264.41, a price-to-earnings ratio of -21.30 and a beta of 0.98. Ardmore Shipping has a 12 month low of $6.40 and a 12 month high of $9.05. The company has a current ratio of 1.44, a quick ratio of 1.27 and a debt-to-equity ratio of 1.07.
About Ardmore Shipping
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.
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