Ardmore Shipping (NYSE:ASC) Posts Earnings Results, Beats Estimates By $0.05 EPS

Ardmore Shipping (NYSE:ASC) posted its quarterly earnings data on Wednesday. The shipping company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05, Zacks reports. Ardmore Shipping had a net margin of 36.31% and a return on equity of 25.13%. The firm had revenue of $121.30 million for the quarter, compared to analysts’ expectations of $80.51 million. During the same quarter last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 32.0% on a year-over-year basis.

Ardmore Shipping Stock Performance

Ardmore Shipping stock opened at $20.10 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04. The firm has a market cap of $816.66 million, a P/E ratio of 7.97 and a beta of 0.39. Ardmore Shipping has a 1-year low of $11.78 and a 1-year high of $23.44. The firm has a 50-day moving average of $21.58 and a 200-day moving average of $18.56.

Ardmore Shipping Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.56%. The ex-dividend date of this dividend is Friday, August 30th. Ardmore Shipping’s payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

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

About Ardmore Shipping

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.