$31.90 Million in Sales Expected for Ardmore Shipping Corp (ASC) This Quarter
Brokerages expect Ardmore Shipping Corp (NYSE:ASC) to report $31.90 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Ardmore Shipping’s earnings, with estimates ranging from $30.86 million to $33.60 million. Ardmore Shipping posted sales of $49.67 million during the same quarter last year, which suggests a negative year-over-year growth rate of 35.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Ardmore Shipping will report full year sales of $31.90 million for the current year, with estimates ranging from $136.00 million to $152.77 million. For the next fiscal year, analysts forecast that the business will report sales of $171.44 million per share, with estimates ranging from $154.50 million to $183.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last posted its earnings results on Wednesday, February 7th. The shipping company reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. Ardmore Shipping had a negative net margin of 6.37% and a negative return on equity of 3.16%. The firm had revenue of $30.23 million during the quarter, compared to analysts’ expectations of $30.24 million. During the same period last year, the company posted ($0.11) EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year.
Shares of Ardmore Shipping (ASC) opened at $7.85 on Monday. Ardmore Shipping has a 12-month low of $6.40 and a 12-month high of $9.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.44 and a quick ratio of 1.27. The company has a market cap of $263.57, a PE ratio of -20.66, a PEG ratio of 7.57 and a beta of 0.98.
Institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC increased its stake in Ardmore Shipping by 32.4% during the 2nd quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock valued at $120,000 after purchasing an additional 3,614 shares in the last quarter. Alliancebernstein L.P. bought a new stake in Ardmore Shipping during the 2nd quarter valued at about $155,000. Two Sigma Securities LLC bought a new stake in Ardmore Shipping during the 4th quarter valued at about $203,000. The Manufacturers Life Insurance Company increased its stake in Ardmore Shipping by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in Ardmore Shipping during the 4th quarter valued at about $535,000. Institutional investors own 86.63% of the company’s stock.
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Ardmore Shipping Company Profile
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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