Ardmore Shipping (NYSE:ASC) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Ardmore Shipping (NYSE:ASC) posted 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 return on equity of 23.63% and a net margin of 36.22%.

Ardmore Shipping Stock Down 4.8 %

Shares of NYSE ASC traded down $0.55 during mid-day trading on Thursday, reaching $10.99. 605,294 shares of the company’s stock were exchanged, compared to its average volume of 717,224. 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 business has a fifty day simple moving average of $11.90 and a 200 day simple moving average of $14.87. Ardmore Shipping has a twelve month low of $10.86 and a twelve month high of $23.44. The firm has a market capitalization of $459.82 million, a price-to-earnings ratio of 3.06 and a beta of 0.25.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Stifel Nicolaus lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating and reduced their target price for the company from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.00.

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.