Ardmore Shipping (NYSE:ASC) announced its quarterly earnings data on Wednesday. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01), Briefing.com reports. Ardmore Shipping had a negative net margin of 21.14% and a negative return on equity of 8.92%. The company had revenue of $55.00 million during the quarter, compared to analyst estimates of $32.16 million. During the same quarter in the previous year, the business posted ($0.26) earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis.
Shares of ASC stock opened at $7.34 on Thursday. The business’s 50-day moving average price is $7.59. The stock has a market capitalization of $244.59 million, a price-to-earnings ratio of -7.06 and a beta of 1.19. Ardmore Shipping has a 1 year low of $4.22 and a 1 year high of $8.77. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.37 and a current ratio of 1.56.
ASC has been the topic of a number of analyst reports. Pareto Securities upgraded Ardmore Shipping from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Zacks Investment Research upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. ValuEngine upgraded Ardmore Shipping from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley set a $8.00 price target on Ardmore Shipping and gave the company a “hold” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Ardmore Shipping currently has an average rating of “Buy” and a consensus target price of $8.68.
Ardmore Shipping Company Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
Further Reading: What is a balanced fund?
Receive News & Ratings for Ardmore Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping and related companies with MarketBeat.com's FREE daily email newsletter.