Ardmore Shipping Corporation (NYSE:ASC) – Equities research analysts at Seaport Global Securities reduced their Q3 2017 earnings estimates for shares of Ardmore Shipping Corporation in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will earn ($0.14) per share for the quarter, down from their previous forecast of ($0.06). Seaport Global Securities also issued estimates for Ardmore Shipping Corporation’s Q4 2017 earnings at ($0.02) EPS and FY2017 earnings at ($0.28) EPS.

A number of other research firms also recently issued reports on ASC. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a research note on Monday, April 24th. ValuEngine downgraded shares of Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. BidaskClub downgraded shares of Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a research note on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $9.88.

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Ardmore Shipping Corporation (ASC) opened at 7.40 on Monday. The company has a 50-day moving average of $7.98 and a 200-day moving average of $7.59. Ardmore Shipping Corporation has a 12 month low of $5.00 and a 12 month high of $8.75. The stock’s market cap is $248.46 million.

Ardmore Shipping Corporation (NYSE:ASC) last issued its earnings results on Thursday, August 3rd. The shipping company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $49.85 million for the quarter, compared to analysts’ expectations of $31.73 million. Ardmore Shipping Corporation had a negative net margin of 6.92% and a negative return on equity of 2.35%. The firm’s revenue was up 25.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS.

Several large investors have recently made changes to their positions in ASC. Royce & Associates LP increased its stake in shares of Ardmore Shipping Corporation by 9.4% in the second quarter. Royce & Associates LP now owns 1,713,575 shares of the shipping company’s stock valued at $13,966,000 after buying an additional 147,900 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Ardmore Shipping Corporation by 2.9% in the second quarter. American Century Companies Inc. now owns 1,463,249 shares of the shipping company’s stock valued at $11,925,000 after buying an additional 40,871 shares in the last quarter. Boston Partners increased its stake in shares of Ardmore Shipping Corporation by 5.7% in the first quarter. Boston Partners now owns 941,138 shares of the shipping company’s stock valued at $7,576,000 after buying an additional 51,050 shares in the last quarter. Eagle Boston Investment Management Inc. increased its stake in shares of Ardmore Shipping Corporation by 5.7% in the first quarter. Eagle Boston Investment Management Inc. now owns 908,767 shares of the shipping company’s stock valued at $7,315,000 after buying an additional 48,669 shares in the last quarter. Finally, Van Den Berg Management I Inc. increased its stake in shares of Ardmore Shipping Corporation by 149.7% in the first quarter. Van Den Berg Management I Inc. now owns 879,941 shares of the shipping company’s stock valued at $7,084,000 after buying an additional 527,488 shares in the last quarter. 76.54% of the stock is currently owned by institutional investors and hedge funds.

About Ardmore Shipping Corporation

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.

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

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