Ardmore Shipping (NYSE:ASC) Posts Earnings Results, Misses Estimates By $0.08 EPS

Ardmore Shipping (NYSE:ASC) announced its quarterly earnings results on Thursday. The shipping company reported $0.25 earnings per share (EPS) 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

NYSE ASC traded down $0.60 during trading on Thursday, reaching $10.95. The company’s stock had a trading volume of 566,228 shares, compared to its average volume of 715,944. The firm has a 50 day moving average price of $11.90 and a 200 day moving average price of $14.87. Ardmore Shipping has a 12 month low of $10.86 and a 12 month high of $23.44. The firm has a market capitalization of $457.94 million, a price-to-earnings ratio of 3.05 and a beta of 0.25. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ASC shares. Stifel Nicolaus lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating and decreased their price target for the company from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered their target price on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Ardmore Shipping presently has a consensus rating of “Hold” and an average target price 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.