Ardmore Shipping (ASC) to Release Quarterly Earnings on Wednesday

Ardmore Shipping (NYSE:ASC) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, July 31st. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.05. The company had revenue of $106.30 million for the quarter, compared to analyst estimates of $72.46 million. Ardmore Shipping had a return on equity of 21.06% and a net margin of 29.15%. Ardmore Shipping’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 EPS. On average, analysts expect Ardmore Shipping to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ardmore Shipping Stock Performance

Shares of ASC stock opened at $20.90 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04. Ardmore Shipping has a 12 month low of $11.78 and a 12 month high of $23.44. The company has a market cap of $849.17 million, a P/E ratio of 8.01 and a beta of 0.39. The firm has a fifty day moving average price of $21.69 and a 200 day moving average price of $18.48.

Ardmore Shipping Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.31 dividend. This is an increase from Ardmore Shipping’s previous quarterly dividend of $0.21. This represents a $1.24 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend was Friday, May 31st. Ardmore Shipping’s payout ratio is presently 47.51%.

Analyst Ratings Changes

A number of analysts have weighed in on ASC shares. StockNews.com raised Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Evercore ISI boosted their target price on Ardmore Shipping from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus increased their target price on Ardmore Shipping from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their price target on Ardmore Shipping from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 8th.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.