Trading Report: The Ardmore Shipping Corp. Expected to Post Q3 2016 Earnings of ($0.07) Per Share (ASC)

The Ardmore Shipping Corp. Expected to Post Q3 2016 Earnings of ($0.07) Per Share (ASC)

Ardmore Shipping Corp. (NYSE:ASC) – Analysts at Seaport Global Securities issued their Q3 2016 earnings per share estimates for shares of Ardmore Shipping Corp. in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Fyhr forecasts that the firm will post earnings per share of ($0.07) for the quarter. Seaport Global Securities also issued estimates for Ardmore Shipping Corp.’s Q4 2016 earnings at $0.04 EPS, FY2016 earnings at $0.36 EPS and FY2017 earnings at $0.95 EPS.

A number of other research analysts have also recently commented on ASC. TheStreet raised shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Zacks Investment Research lowered shares of Ardmore Shipping Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Jefferies Group reiterated a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Monday, August 22nd. Wells Fargo & Co. reiterated a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Tuesday, September 27th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Ardmore Shipping Corp. presently has a consensus rating of “Buy” and a consensus target price of C$12.63.

Shares of Ardmore Shipping Corp. (NYSE:ASC) opened at 6.61 on Thursday. The company has a market capitalization of $221.36 million, a PE ratio of 5.60 and a beta of 1.30. The stock has a 50 day moving average of $7.08 and a 200-day moving average of $7.96. Ardmore Shipping Corp. has a 12-month low of $6.46 and a 12-month high of $15.03.

Ardmore Shipping Corp. (NYSE:ASC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Ardmore Shipping Corp. had a net margin of 18.12% and a return on equity of 8.47%. The business had revenue of $39.70 million for the quarter, compared to analysts’ expectations of $32.49 million. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year.

A number of institutional investors have recently made changes to their positions in ASC. FMR LLC increased its position in shares of Ardmore Shipping Corp. by 34.0% in the second quarter. FMR LLC now owns 3,317,014 shares of the company’s stock worth $22,456,000 after buying an additional 842,167 shares during the period. Donald Smith & CO. Inc. increased its position in shares of Ardmore Shipping Corp. by 20.9% in the second quarter. Donald Smith & CO. Inc. now owns 2,922,262 shares of the company’s stock worth $19,784,000 after buying an additional 504,604 shares during the period. Royce & Associates LP increased its position in shares of Ardmore Shipping Corp. by 33.1% in the first quarter. Royce & Associates LP now owns 1,782,503 shares of the company’s stock worth $15,062,000 after buying an additional 443,000 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Ardmore Shipping Corp. during the second quarter worth about $2,302,000. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Ardmore Shipping Corp. by 110.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 631,244 shares of the company’s stock worth $4,274,000 after buying an additional 331,360 shares during the period. 63.25% of the stock is owned by hedge funds and other institutional investors.

About Ardmore Shipping Corp.

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