Ardmore Shipping (NYSE:ASC - Get Free Report) announced 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 Price Performance
Shares of NYSE:ASC traded down $0.29 during trading on Monday, reaching $10.43. The company had a trading volume of 1,334,703 shares, compared to its average volume of 715,677. The firm's fifty day moving average is $11.87 and its 200 day moving average is $14.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.26 and a current ratio of 3.57. The firm has a market capitalization of $436.27 million, a PE ratio of 2.92 and a beta of 0.25. Ardmore Shipping has a twelve month low of $10.22 and a twelve month high of $23.44.
Ardmore Shipping Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.07%. Ardmore Shipping's dividend payout ratio (DPR) is 20.17%.
Analysts Set New Price Targets
Several analysts have weighed in on ASC shares. Stifel Nicolaus lowered their target price on shares of Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Friday. Jefferies Financial Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Ardmore Shipping in a research report on Thursday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $18.00.
View Our Latest Research Report on ASC
Ardmore Shipping Company Profile
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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.
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