Press coverage about Ardmore Shipping Corporation (NYSE:ASC) has trended somewhat positive this week, according to Accern. The research firm identifies positive and negative media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ardmore Shipping Corporation earned a daily sentiment score of 0.15 on Accern’s scale. Accern also gave news coverage about the shipping company an impact score of 46.7490587248385 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Several equities research analysts have recently issued reports on ASC shares. TheStreet cut shares of Ardmore Shipping Corporation from a “c-” rating to a “d” rating in a research report on Wednesday, May 24th. ValuEngine cut shares of Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a research report on Tuesday, July 4th. BidaskClub cut shares of Ardmore Shipping Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $10.50.
Shares of Ardmore Shipping Corporation (NYSE ASC) opened at 7.45 on Wednesday. Ardmore Shipping Corporation has a 12 month low of $5.00 and a 12 month high of $8.75. The company’s market cap is $250.13 million. The company has a 50-day moving average of $7.67 and a 200 day moving average of $7.66.
Ardmore Shipping Corporation (NYSE:ASC) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). Ardmore Shipping Corporation had a negative return on equity of 2.35% and a negative net margin of 6.92%. The firm had revenue of $49.85 million during the quarter, compared to the consensus estimate of $31.73 million. During the same period in the prior year, the company earned $0.18 EPS. The firm’s revenue was up 25.5% compared to the same quarter last year. On average, analysts anticipate that Ardmore Shipping Corporation will post ($0.14) earnings per share for the current year.
Ardmore Shipping Corporation declared that its board has approved a stock buyback plan on Thursday, August 31st that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the shipping company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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Ardmore Shipping Corporation Company Profile
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.
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