Streetbeat News

ASC

Ardmore Shipping Corporation

https://ardmoreshipping.com

Industry

Marine Shipping

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2022, the company operated a fleet of 25 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers. The company was founded in 2010 and is based in Pembroke, Bermuda.

Open

12.16

Mkt cap

493M

Volume

789K

High

12.29

P/E Ratio

3.32

52-wk high

23.44

Low

11.62

Div yield

0.09

52-wk low

11.59

Stifel analyst Benjamin Nolan has downgraded Ardmore Shipping (NYSE:ASC) from Buy to Hold and reduced the price target from $24 to $17.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 11:44 am

Ardmore Shipping has filed with the SEC for a mixed shelf offering of up to $500 million, which could include various securities such as common stock, preferred stock, debt securities, and warrants. This move provides Ardmore with the flexibility to raise capital as needed.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 8:24 pm

Analysts have provided mixed ratings for Ardmore Shipping (NYSE:ASC) over the past three months, with a majority being bullish. The average 12-month price target has increased by 7.95% to $23.75. Key analysts from Jefferies, Stifel, and Evercore ISI Group have raised their price targets and ratings.

Portfolio Pulse from Benzinga Insights

July 31, 2024 | 3:01 pm

Jefferies analyst Omar Nokta maintains a Buy rating on Ardmore Shipping (NYSE:ASC) and raises the price target from $21 to $24.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 2:33 pm

Ardmore Shipping reported that 95% of its MR tankers' revenue days in Q3 are employed in the spot market, with the remaining 5% on time charters. The company expects all revenue days for its Eco-Design IMO 2 product/chemical tankers to be employed in the spot market.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 12:06 pm

Ardmore Shipping (NYSE:ASC) reported Q2 2024 adjusted EPS of $1.13, beating the estimate of $1.02. Sales were $121.3M, surpassing the $94.074M estimate and showing a 100.84% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 12:04 pm

Stifel analyst Benjamin Nolan maintains a Buy rating on Ardmore Shipping (NYSE:ASC) and raises the price target from $22 to $24.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 12:15 pm

Evercore ISI Group analyst Jonathan Chappell maintains an Outperform rating on Ardmore Shipping (NYSE:ASC) and raises the price target from $25 to $26.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 4:29 pm

Ardmore Shipping's shares increased in value following the announcement of mixed financial results for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 5:33 pm

Ardmore Shipping (NYSE:ASC) reported Q1 2024 adjusted EPS of $0.92, surpassing the $0.83 estimate. However, its sales of $106.301M missed the $79.912M estimate, marking a 100% decrease from $81.670M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 12:03 pm

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