Ardmore Shipping Corporation (NYSE:ASC) Shareholders to Collect $0.27 Quarterly Dividend

Key Points

• Ardmore Shipping declared a quarterly dividend of $0.27 per share, payable December 15 to shareholders of record November 27. The $1.08 annualized payout yields about 5.6% and is 65.8% lower than the prior quarterly dividend.
• The dividend payout ratio is 250.8%, meaning Ardmore currently cannot cover its dividend from earnings alone and is relying on its balance sheet.
• Quarterly earnings came in at $0.40 per share, slightly above the $0.39 estimate; revenue of $87.71 million also exceeded analysts’ $56.67 million expectation.

Ardmore Shipping Corporation (NYSE:ASC - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Friday, November 27th will be given a dividend of $0.27 per share by the shipping company on Tuesday, December 15th. This represents a $1.08 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, November 27th. This is a 65.8% decrease from Ardmore Shipping's previous quarterly dividend of $0.79.

Ardmore Shipping has raised its dividend payment by an average of 0.4% annually over the last three years. Ardmore Shipping has a dividend payout ratio of 250.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Ardmore Shipping Stock Down 1.8%

Shares of ASC traded down $0.35 on Tuesday, reaching $19.20. The company's stock had a trading volume of 1,422,636 shares, compared to its average volume of 680,411. The company has a current ratio of 5.45, a quick ratio of 4.84 and a debt-to-equity ratio of 0.05. Ardmore Shipping has a twelve month low of $10.31 and a twelve month high of $21.34. The stock has a market capitalization of $782.22 million, a PE ratio of 7.42 and a beta of 0.11. The firm has a fifty day moving average of $18.82 and a 200-day moving average of $16.58.

Ardmore Shipping (NYSE:ASC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The shipping company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Ardmore Shipping had a return on equity of 15.24% and a net margin of 29.67%. The business had revenue of $87.71 million for the quarter, compared to analysts' expectations of $56.67 million.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Evercore reissued an "outperform" rating and issued a $22.00 target price on shares of Ardmore Shipping in a research report on Tuesday, October 27th. Wall Street Zen downgraded Ardmore Shipping from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Weiss Ratings upgraded Ardmore Shipping from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Ardmore Shipping currently has an average rating of "Buy" and an average target price of $18.50.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation NYSE: ASC is a maritime transportation company that owns and operates a fleet of product and chemical tankers. The company provides seaborne transportation services for refined petroleum products, such as gasoline, diesel and jet fuel, as well as certain chemicals and other liquid cargoes.

Ardmore's vessels primarily serve international trade routes, transporting cargoes between major energy and industrial markets. Its operations include commercial management, chartering and technical management of its fleet, with an emphasis on safe, efficient and environmentally responsible maritime transportation.

Founded in 2010, Ardmore Shipping is headquartered in Hamilton, Bermuda.

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