Ardmore Shipping Corporation (NYSE: ASC) stock fell -6.21% on Monday to $12.98 against a previous-day closing price of $13.84. With 0.98 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.78 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $13.80 whereas the lowest price it dropped to was $12.95. The 52-week range on ASC shows that it touched its highest point at $16.32 and its lowest point at $3.09 during that stretch. It currently has a 1-year price target of $16.75. Beta for the stock currently stands at 0.60.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ASC was down-trending over the past week, with a drop of -7.94%, but this was down by -14.27% over a month. Three-month performance surged to 13.56% while six-month performance rose 65.77%. The stock gained 289.79% in the past year, while it has lost -9.92% so far this year. A look at the trailing 12-month EPS for ASC yields 1.85 with Next year EPS estimates of 2.14. For the next quarter, that number is 1.12. This implies an EPS growth rate of -518.00% for this year and -43.74% for next year. EPS is expected to grow by 42.64% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -61.70%.
Float and Shares Shorts:
At present, 38.77 million ASC shares are outstanding with a float of 36.92 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.38 million, which was 3.46% higher than short shares on Sep 14, 2022. In addition to Mr. Anthony Gurnee CFA as the firm’s Founder, Pres, CEO & Director, Mr. Bart B. Kelleher serves as its Chief Financial Officer.
Through their ownership of 66.04% of ASC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.76% of ASC, in contrast to 29.79% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ASC with 6.96% of the stake, Aristotle Capital Boston LLC holds 2,393,165 shares worth 2,393,165. A second-largest stockholder of ASC, Private Management Group, Inc., holds 2,287,398 shares, controlling over 6.66% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in ASC, holding 2,178,245 shares or 6.34% stake. With a 2.61% stake in ASC, the iShares Russell 2000 ETF is the largest stakeholder. A total of 895,076 shares are owned by the mutual fund manager. The Royce Small-Cap Opportunity Fund, which owns about 2.07% of ASC stock, is the second-largest Mutual Fund holder. It holds 712,393 shares valued at 10.27 million. DFA US Small Cap Value Portfolio holds 1.58% of the stake in ASC, owning 541,149 shares worth 7.8 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASC since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASC analysts setting a high price target of $18.00 and a low target of $14.00, the average target price over the next 12 months is $16.75. Based on these targets, ASC could surge 38.67% to reach the target high and rise by 7.86% to reach the target low. Reaching the average price target will result in a growth of 29.04% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ASC will report FY 2022 earnings on 02/13/2024. Analysts have provided yearly estimates in a range of $3.80 being high and $3.40 being low. For ASC, this leads to a yearly average estimate of $3.58. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ardmore Shipping Corporation surprised analysts by $0.10 when it reported $1.54 EPS against a consensus estimate of $1.44. The surprise factor in the prior quarter was $0.09. Based on analyst estimates, the high estimate for the next quarter is $1.32 and the low estimate is $0.98. The average estimate for the next quarter is thus $1.21.