$31.46 Million in Sales Expected for Ardmore Shipping Co. (NYSE:ASC) This Quarter

Wall Street brokerages predict that Ardmore Shipping Co. (NYSE:ASC) will announce sales of $31.46 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Ardmore Shipping’s earnings. The lowest sales estimate is $29.20 million and the highest is $33.99 million. Ardmore Shipping posted sales of $21.84 million during the same quarter last year, which suggests a positive year-over-year growth rate of 44%. The company is expected to report its next quarterly earnings report on Wednesday, February 9th.

On average, analysts expect that Ardmore Shipping will report full year sales of $107.52 million for the current financial year, with estimates ranging from $105.30 million to $110.03 million. For the next financial year, analysts forecast that the company will report sales of $144.04 million, with estimates ranging from $138.58 million to $150.74 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Ardmore Shipping.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings results on Wednesday, November 10th. The shipping company reported ($0.37) earnings per share (EPS) for the quarter, missing the 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 business earned ($0.20) earnings per share.

Several research firms have issued reports on ASC. HC Wainwright restated a “buy” rating and issued a $5.50 price objective on shares of Ardmore Shipping in a research note on Wednesday, July 28th. Zacks Investment Research lowered Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Monday, October 25th.

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

A number of institutional investors have recently bought and sold shares of ASC. LPL Financial LLC acquired a new stake in shares of Ardmore Shipping in the 2nd quarter valued at $68,000. Jump Financial LLC acquired a new stake in shares of Ardmore Shipping in the 3rd quarter valued at $76,000. Algert Global LLC acquired a new stake in shares of Ardmore Shipping in the 2nd quarter valued at $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 valued at $89,000 after purchasing an additional 8,380 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Ardmore Shipping in the 2nd quarter valued at $180,000. Hedge funds and other institutional investors own 63.23% of the company’s stock.

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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