Ardmore Shipping (NYSE:ASC) Announces Quarterly Earnings Results

Ardmore Shipping (NYSE:ASC) posted its quarterly earnings data on Wednesday. The shipping company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.05, Briefing.com reports. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. The firm had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $72.46 million. During the same quarter last year, the company posted $1.04 EPS. The business’s quarterly revenue was down 10.1% on a year-over-year basis.

Ardmore Shipping Stock Up 0.4 %

Shares of NYSE:ASC traded up $0.09 on Thursday, reaching $20.43. The company had a trading volume of 1,289,615 shares, compared to its average volume of 640,265. The firm’s 50 day simple moving average is $16.44 and its 200-day simple moving average is $15.28. The firm has a market capitalization of $830.01 million, a PE ratio of 7.45 and a beta of 0.36. The company has a current ratio of 3.75, a quick ratio of 3.38 and a debt-to-equity ratio of 0.15. Ardmore Shipping has a 52-week low of $11.59 and a 52-week high of $20.52.

Ardmore Shipping Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 6.07%. The ex-dividend date is Friday, May 31st. This is a positive change from Ardmore Shipping’s previous quarterly dividend of $0.21. Ardmore Shipping’s dividend payout ratio is presently 30.77%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price target on shares of Ardmore Shipping from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. StockNews.com upgraded Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price target on shares of Ardmore Shipping from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday.

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.