Ardmore Shipping (NYSE:ASC) Issues Quarterly Earnings Results

Ardmore Shipping (NYSE:ASC) released its quarterly earnings data on Thursday. The shipping company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.08), Zacks reports. Ardmore Shipping had a net margin of 36.22% and a return on equity of 23.63%.

Ardmore Shipping Stock Performance

Shares of NYSE:ASC traded down $0.29 during midday trading on Friday, reaching $10.43. The company had a trading volume of 1,334,703 shares, compared to its average volume of 715,677. The company’s 50 day moving average price is $11.89 and its 200 day moving average price is $14.84. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03. The stock has a market cap of $436.27 million, a P/E ratio of 2.92 and a beta of 0.25. Ardmore Shipping has a 52-week low of $10.22 and a 52-week high of $23.44.

Ardmore Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, February 28th. Ardmore Shipping’s dividend payout ratio (DPR) is currently 20.17%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ASC shares. Jefferies Financial Group reissued a “buy” rating and issued a $17.00 price target on shares of Ardmore Shipping in a research report on Thursday. Stifel Nicolaus cut their price objective on shares of Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Ardmore Shipping presently has a consensus rating of “Hold” and a consensus price target of $18.00.

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.