A History of Outperforming Analyst Forecasts and Beating the Odds: Ardmore Shipping Corporation (ASC)

Ardmore Shipping Corporation (NYSE: ASC) stock fell -0.32% on Monday to $12.47 against a previous-day closing price of $12.51. With 0.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.61 million shares. During the session, the Marine Shipping company that operates in wider Industrials sector, reached to the highest price of $12.66 whereas the lowest price it dropped to was $12.39. The 52-week range on ASC shows that it touched its highest point at $19.41 and its lowest point at $8.75 during that stretch. It currently has a 1-year price target of $19.40. With its current market cap of 520.75 million, ASC has annualized dividend of $1.04 while the current yield stands at 8.34%. Beta for the stock currently stands at 0.61.

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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 -0.56%, but this was down by -8.04% over a month. Three-month performance dropped to -1.50% while six-month performance fell -14.71%. The stock gained 24.70% in the past year, while it has lost -13.46% so far this year. A look at the trailing 12-month EPS for ASC yields 4.37 with Next year EPS estimates of 2.58. For the next quarter, that number is 0.38. This implies an EPS growth rate of 413.20% for this year and -8.53% 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 62.80%.

Float and Shares Shorts:

At present, 41.19 million ASC shares are outstanding with a float of 34.98 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.48 million, which was 3.58% higher than short shares on Jul 30, 2023. In addition to Mr. Anthony Gurnee CFA as the firm’s Founder, Pres, CEO & Director, Mr. Bart B. Kelleher serves as its Sec. & CFO.

Institutional Ownership:

Other institutions hold 40.33% of ASC, in contrast to 26.90% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ASC with 6.15% of the stake, Dimensional Fund Advisors LP holds 2,656,589 shares worth 2,656,589. A second-largest stockholder of ASC, BlackRock Fund Advisors, holds 2,497,345 shares, controlling over 5.78% of the firm’s shares. Aristotle Capital Boston LLC is the third largest shareholder in ASC, holding 2,029,088 shares or 4.70% stake. With a 2.14% stake in ASC, the iShares Russell 2000 ETF is the largest stakeholder. A total of 923,246 shares are owned by the mutual fund manager. The DFA US Small Cap Value Portfolio, which owns about 1.50% of ASC stock, is the second-largest Mutual Fund holder. It holds 646,189 shares valued at 8.04 million. Royce Small-Cap Opportunity Fund holds 1.02% of the stake in ASC, owning 441,593 shares worth 5.49 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ASC reported revenue of $107.12M and operating income of $34.34M. The EBITDA in the recently reported quarter was $41.34M and diluted EPS was $0.81.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASC since 0 analysts follow the stock currently. 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 $23.00 and a low target of $18.00, the average target price over the next 12 months is $19.50. Based on these targets, ASC could surge 84.44% to reach the target high and rise by 44.35% to reach the target low. Reaching the average price target will result in a growth of 56.38% 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.

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