Ardmore Shipping (NYSE:ASC) announced its quarterly earnings results on Wednesday. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02, Briefing.com reports. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $33.04 million. Ardmore Shipping had a negative return on equity of 9.38% and a negative net margin of 20.43%. Ardmore Shipping’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.16) earnings per share.
Shares of NYSE ASC opened at $7.74 on Friday. The company has a market capitalization of $231.02 million, a P/E ratio of -7.44 and a beta of 1.22. Ardmore Shipping has a 52-week low of $4.22 and a 52-week high of $8.75. The company has a quick ratio of 1.28, a current ratio of 1.45 and a debt-to-equity ratio of 1.22.
A number of analysts recently issued reports on the company. Morgan Stanley set a $8.00 price target on Ardmore Shipping and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research lowered Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, ValuEngine upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a report on Friday, March 1st.
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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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