Ardmore Shipping Corp. (ASC) Shares Down 2.5%
Ardmore Shipping Corp. (NYSE:ASC)’s share price dropped 2.5% on Friday . The stock traded as low as $7.67 and last traded at $7.69, with a volume of 248,743 shares changing hands. The stock had previously closed at $7.89.
Several equities analysts have recently commented on ASC shares. ABN Amro raised shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. Jefferies Group lowered their target price on shares of Ardmore Shipping Corp. from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Stifel Nicolaus reissued a “buy” rating on shares of Ardmore Shipping Corp. in a report on Wednesday, August 3rd. Seaport Global Securities reissued a “buy” rating and issued a $13.00 target price on shares of Ardmore Shipping Corp. in a report on Wednesday, May 4th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $11.00 target price on shares of Ardmore Shipping Corp. in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$13.29.
The firm has a market cap of $259.54 million and a P/E ratio of 6.56. The firm has a 50 day moving average of $7.28 and a 200 day moving average of $8.34.
Ardmore Shipping Corp. (NYSE:ASC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The business earned $39.70 million during the quarter, compared to analyst estimates of $32.49 million. The company’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Ardmore Shipping Corp. will post $0.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 16th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.68%.
An institutional investor recently raised its position in Ardmore Shipping Corp. stock. I.G. Investment Management LTD. boosted its position in Ardmore Shipping Corp. (NYSE:ASC) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 115,396 shares of the company’s stock after buying an additional 708 shares during the period. I.G. Investment Management LTD. owned 0.44% of Ardmore Shipping Corp. worth $1,468,000 as of its most recent filing with the SEC.
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.