Ardmore Shipping Co. (NYSE:ASC - Get Free Report) announced a dividend on Saturday, May 24th, investing.com reports. Investors of record on Monday, June 2nd will be given a dividend of 0.05 per share by the shipping company on Friday, June 13th. This represents a yield of 2.05%. The ex-dividend date is Friday, May 30th.
Ardmore Shipping has a payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ardmore Shipping to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 14.5%.
Ardmore Shipping Price Performance
Ardmore Shipping stock traded up $0.14 during mid-day trading on Tuesday, reaching $9.91. 494,665 shares of the company's stock traded hands, compared to its average volume of 685,589. The company has a market cap of $402.58 million, a price-to-earnings ratio of 3.24 and a beta of -0.02. The stock has a 50 day moving average of $9.57 and a two-hundred day moving average of $10.72. The company has a quick ratio of 3.86, a current ratio of 4.24 and a debt-to-equity ratio of 0.06. Ardmore Shipping has a 12-month low of $8.32 and a 12-month high of $23.19.
Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Ardmore Shipping had a return on equity of 20.48% and a net margin of 32.78%. The firm had revenue of $74.00 million during the quarter, compared to analysts' expectations of $43.04 million. During the same period last year, the company earned $0.92 earnings per share. The business's revenue for the quarter was down 30.4% compared to the same quarter last year. Equities analysts forecast that Ardmore Shipping will post 1.06 earnings per share for the current year.
Institutional Trading of Ardmore Shipping
A number of hedge funds and other institutional investors have recently modified their holdings of ASC. AQR Capital Management LLC boosted its stake in Ardmore Shipping by 31.2% during the first quarter. AQR Capital Management LLC now owns 77,769 shares of the shipping company's stock worth $761,000 after buying an additional 18,500 shares during the period. Empowered Funds LLC grew its position in Ardmore Shipping by 7.5% in the 1st quarter. Empowered Funds LLC now owns 234,987 shares of the shipping company's stock valued at $2,301,000 after buying an additional 16,458 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ardmore Shipping by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the shipping company's stock valued at $242,000 after purchasing an additional 1,102 shares in the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently commented on ASC shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $17.00 price target on shares of Ardmore Shipping in a research note on Thursday, February 13th. Stifel Nicolaus decreased their price objective 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, February 14th. Evercore ISI cut their target price on shares of Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Fearnley Fonds upgraded shares of Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.67.
Read Our Latest Analysis on Ardmore Shipping
About Ardmore Shipping
(
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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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