Q1 2017 EPS Estimates for Ardmore Shipping Corporation (ASC) Increased by Analyst

Ardmore Shipping Corporation (NYSE:ASC) – Analysts at Jefferies Group raised their Q1 2017 earnings estimates for Ardmore Shipping Corporation in a note issued to investors on Tuesday. Jefferies Group analyst D. Mavrinac now expects that the brokerage will post earnings of ($0.20) per share for the quarter, up from their previous forecast of ($0.24).

Separately, Zacks Investment Research cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, December 6th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ardmore Shipping Corporation currently has an average rating of “Buy” and an average price target of $11.60.

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

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Ardmore Shipping Corporation (NYSE:ASC) opened at 7.25 on Friday. The company has a market cap of $243.42 million, a PE ratio of 60.42 and a beta of 1.52. Ardmore Shipping Corporation has a 12 month low of $5.00 and a 12 month high of $9.96. The company has a 50 day moving average price of $7.39 and a 200-day moving average price of $7.08.

Ardmore Shipping Corporation (NYSE:ASC) last issued its quarterly earnings results on Tuesday, February 7th. The company reported ($0.11) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.11). Ardmore Shipping Corporation had a return on equity of 1.64% and a net margin of 2.28%. The company had revenue of $43.20 million for the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter last year, the business earned $0.21 earnings per share. Ardmore Shipping Corporation’s revenue was up 25.9% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “Q1 2017 EPS Estimates for Ardmore Shipping Corporation (ASC) Increased by Analyst” was published by sleekmoney and is the property of of sleekmoney. If you are reading this article on another publication, it was copied illegally and republished in violation of United States and international copyright law. The legal version of this article can be viewed at http://sleekmoney.com/q1-2017-eps-estimates-for-ardmore-shipping-corporation-asc-increased-by-analyst/1656363.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of ASC. Boston Partners raised its stake in shares of Ardmore Shipping Corporation by 1.8% in the third quarter. Boston Partners now owns 647,618 shares of the company’s stock valued at $4,559,000 after buying an additional 11,440 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of Ardmore Shipping Corporation by 13.7% in the third quarter. Donald Smith & CO. Inc. now owns 3,323,613 shares of the company’s stock valued at $23,398,000 after buying an additional 401,351 shares during the last quarter. DIAM Co. Ltd. raised its stake in shares of Ardmore Shipping Corporation by 4.7% in the third quarter. DIAM Co. Ltd. now owns 33,700 shares of the company’s stock valued at $237,000 after buying an additional 1,500 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Ardmore Shipping Corporation by 12.6% in the third quarter. Prudential Financial Inc. now owns 73,440 shares of the company’s stock valued at $517,000 after buying an additional 8,240 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Ardmore Shipping Corporation by 280.5% in the third quarter. KBC Group NV now owns 52,000 shares of the company’s stock valued at $366,000 after buying an additional 38,333 shares during the last quarter. 69.62% of the stock is owned by institutional investors.

Ardmore Shipping Corporation 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.

5 Day Chart for NYSE:ASC

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