The stock of Ardmore Shipping Corporation (NYSE:ASC) decreased by -$0.41 on Friday to finish at $13.25, down -3.00 percent. The last five days have seen an average of 485,800 shares of common stock traded. 12 times new highs were reached in the current year, with a fall of -$1.16. The average number of shares traded over the last 20 days was 753,310, while the average volume over the last 50 days totaled 706,234.
ASC stock appreciated 7.37% since last month. On 07/14/23, the company’s shares reached a one-month low of $11.70. The stock touched a high of $19.41 on 03/01/23, after rallying from a low of $8.75 in 52 weeks. The price of ASC stock has declined by -8.05% or -$1.16 this year, reaching a new high 12 times. Still, the stock price is down -31.72% from the 52-week high.
Valuation Metrics
Ardmore Shipping Corporation (ASC) has a trailing price-to-earnings (P/E) ratio of 3.03. Beta for the stock is 0.60. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.16, the price-to-book (PB) ratio of 1.08, and the price-to-cash flow ratio of 2.83.
Company paid $0.19 per share in dividends, a decrease of -45.71% from $0.35 last year. A $0.16 dividend decrease was reported on Tuesday August 1 2023.
Financial Health
For the three months ended June 29, Ardmore Shipping Corporation’s quick ratio was 3.10, while its current ratio was 3.50, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.23, and the total debt to equity ratio is 0.25. As far as profitability goes, gross margin for the trailing twelve months is 56.50% percent. Ardmore Shipping Corporation’s EBITDA margin for the year ended June 29 was 43.27%, whereas its operating margin stood at 40.50% for the same period. Based on annual data, it had gross profit of $217.0 million and revenue of $445.74 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ASC’s return on assets (ROA) during the last 12 months has been 25.40%. There was a 25.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 38.40%.
Earnings Surprise
According to Ardmore Shipping Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $445.74 million, while revenues rose by 56.82% to $0.0. It was predicted that Ardmore Shipping Corporation’s quarterly earnings would be $0.57, but it ended up being $0.56, beating the consensus by 1.80%. EBITDA was $35.29 million for the quarter. At the end of Ardmore Shipping Corporation’s most recent quarter ended June 29, its liabilities totaled 192.38 million, while its total debt was $131.21 million.
Technical Picture
Here’s a quick look at Ardmore Shipping Corporation’s (ASC) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 47.49%, suggesting the stock is Neutral, with a 21.91% historical volatility rate.
The stochastic %K and %D were 53.94% and 63.44% respectively, while the average true range (ATR) was 0.49. Based on the 14-day stochastic reading of 25.95%, the RSI (14) reading is 51.76%. On the 9-day MACD Oscillator, the stock is at -0.10, and the 14-day reading is at -0.02.
Analyst Ratings
In its analyst report released on July 21, 2022, Jefferies began covering Ardmore Shipping Corporation (NYSE: ASC). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Ardmore Shipping Corporation (ASC) an Buy rating. ASC is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is ASC’s price target for the next 12 months?
The current consensus forecast for the stock is between $18.00 and $23.00, with a median target price of $19.00. In analyzing these forecasts, the average price target given by analysts for Ardmore Shipping Corporation (ASC) is $19.50.
