Ardmore Shipping Co. (NYSE:ASC) to Issue Quarterly Dividend of $0.31

Ardmore Shipping Co. (NYSE:ASC) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.31 per share by the shipping company on Friday, June 14th. This represents a $1.24 annualized dividend and a dividend 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 has raised its dividend by an average of 184.4% per year over the last three years.

Ardmore Shipping Trading Up 0.4 %

Shares of NYSE ASC traded up $0.09 during midday trading on Thursday, hitting $20.43. The company’s stock had a trading volume of 1,289,640 shares, compared to its average volume of 643,609. The business’s 50 day moving average is $16.44 and its two-hundred day moving average is $15.28. 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 12-month low of $11.59 and a 12-month high of $20.52. The firm has a market cap of $830.01 million, a P/E ratio of 7.45 and a beta of 0.36.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.87 by $0.05. The business had revenue of $106.30 million during the quarter, compared to analysts’ expectations of $72.46 million. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. As a group, equities research analysts expect that Ardmore Shipping will post 2.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ASC shares. Stifel Nicolaus boosted 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. Jefferies Financial Group raised their price objective on Ardmore Shipping from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.