Positive Media Coverage Very Likely to Impact Ardmore Shipping Corporation (ASC) Stock Price
News coverage about Ardmore Shipping Corporation (NYSE:ASC) has been trending positive this week, Alpha One reports. The research group, a subsidiary of Accern, rates the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Alpha One ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ardmore Shipping Corporation earned a media sentiment score of 0.37 on Alpha One’s scale. Alpha One also assigned headlines about the shipping company an impact score of 88 out of 100, indicating that recent press coverage is very likely to have an effect on the stock’s share price in the near future.
A number of research analysts recently commented on ASC shares. ABN Amro upgraded shares of Ardmore Shipping Corporation from a “hold” rating to a “buy” rating and set a $11.50 price objective on the stock in a research note on Monday, March 6th. Zacks Investment Research lowered shares of Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, March 21st. TheStreet lowered shares of Ardmore Shipping Corporation from a “c-” rating to a “d” rating in a research note on Wednesday, May 24th. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a research note on Monday, April 24th. Finally, ValuEngine lowered shares of Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $9.83.
Ardmore Shipping Corporation (NYSE:ASC) traded up 3.29% on Friday, reaching $7.85. 129,590 shares of the company’s stock traded hands. The firm’s market capitalization is $263.56 million. The firm’s 50 day moving average price is $7.59 and its 200 day moving average price is $7.41. Ardmore Shipping Corporation has a 52-week low of $5.00 and a 52-week high of $8.55.
Ardmore Shipping Corporation (NYSE:ASC) last announced its quarterly earnings data on Wednesday, May 3rd. The shipping company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. Ardmore Shipping Corporation had a negative net margin of 3.03% and a negative return on equity of 0.60%. The business had revenue of $49.67 million for the quarter, compared to analyst estimates of $30.75 million. During the same period in the prior year, the business posted $0.26 earnings per share. Ardmore Shipping Corporation’s revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that Ardmore Shipping Corporation will post ($0.05) EPS for the current fiscal year.
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About Ardmore Shipping Corporation
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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