Zacks: Analysts Anticipate Ardmore Shipping Co. (NYSE:ASC) Will Announce Quarterly Sales of $31.46 Million

Wall Street brokerages forecast that Ardmore Shipping Co. (NYSE:ASC) will report sales of $31.46 million for the current quarter, according to Zacks. Three analysts have provided estimates for Ardmore Shipping’s earnings, with estimates ranging from $29.20 million to $33.99 million. Ardmore Shipping reported sales of $21.84 million during the same quarter last year, which indicates a positive year-over-year growth rate of 44%. The firm is expected to report its next quarterly earnings results on Wednesday, February 9th.

According to Zacks, analysts expect that Ardmore Shipping will report full-year sales of $107.52 million for the current year, with estimates ranging from $105.30 million to $110.03 million. For the next financial year, analysts anticipate that the company will post sales of $144.04 million, with estimates ranging from $138.58 million to $150.74 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last released its earnings results on Wednesday, November 10th. The shipping company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.03). Ardmore Shipping had a negative net margin of 26.65% and a negative return on equity of 13.10%. During the same quarter last year, the firm earned ($0.20) EPS.

Several equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $5.50 price target on shares of Ardmore Shipping in a report on Wednesday, July 28th. Zacks Investment Research lowered shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Monday, October 25th.

NYSE:ASC traded up $0.19 during trading hours on Thursday, hitting $4.04. 127,076 shares of the company traded hands, compared to its average volume of 324,489. The company has a market capitalization of $134.08 million, a PE ratio of -2.77 and a beta of 0.80. Ardmore Shipping has a twelve month low of $2.98 and a twelve month high of $5.43. The stock’s 50-day moving average price is $3.87. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.53 and a quick ratio of 1.36.

Institutional investors and hedge funds have recently bought and sold shares of the company. LPL Financial LLC bought a new position in shares of Ardmore Shipping in the second quarter valued at approximately $68,000. Jump Financial LLC acquired a new position in shares of Ardmore Shipping in the 3rd quarter worth approximately $76,000. Algert Global LLC acquired a new position in shares of Ardmore Shipping in the 2nd quarter worth approximately $81,000. Renaissance Technologies LLC boosted its holdings in shares of Ardmore Shipping by 74.8% in the 1st quarter. Renaissance Technologies LLC now owns 19,580 shares of the shipping company’s stock worth $89,000 after acquiring an additional 8,380 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Ardmore Shipping in the 2nd quarter worth approximately $180,000. 63.23% of the stock is currently owned by institutional investors and hedge funds.

Ardmore Shipping Company Profile

Ardmore Shipping Corp. operates as a holding company. The firm engages in the provision of seaborne transportation of petroleum products and chemicals worldwide. It also owns and operates fleet of tankers. The company was founded by Anthony Gurnee on May 14, 2013 and is headquartered in Pembroke, Bermuda.

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