Ardmore Shipping (ASC) closed the most recent trading day at $16.70, moving +0.06% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.Coming into today, shares of the shipping company had gained 5.1% in the past month. In that same time, the Transportation sector gained 0.33%, while the S&P 500 gained 0.48%.The investment community will be closely ...

Core Viewpoint - The average brokerage recommendation (ABR) for Ardmore Shipping (ASC) is 1.00, indicating a Strong Buy, based on three brokerage firms' recommendations, all of which are Strong Buy [1][2] Group 1: Brokerage Recommendations - Brokerage recommendations often exhibit a strong positive bias due to the vested interests of the firms, leading to a higher number of Strong Buy ratings compared to Strong Sell ratings [2][3] - The ABR is calculated solely from brokerage recommendations, which may not accurately reflect the stock's potential for price appreciation [2][4] Group 2: Zacks Rank vs. ABR - Zacks Rank is a quantitative model based on earnings estimate revisions, providing a more reliable indicator of near-term stock performance compared to ABR [4][5] - The Zacks Rank is updated more frequently and reflects timely changes in earnings estimates, while ABR may not be current [5] Group 3: Current Earnings Estimates for Ardmore Shipping - The Zacks Consensus Estimate for Ardmore Shipping remains unchanged at $2.60 for the current year, indicating steady analyst views on earnings prospects [6] - Due to the unchanged consensus estimate and other factors, Ardmore Shipping holds a Zacks Rank of 3 (Hold), suggesting caution despite the Buy-equivalent ABR [6]

Industry Overview - The MR tanker market is experiencing a positive trend, with 2024 rates projected to be higher than the seasonal average from 2019 to 2023 due to a deficit of MR tankers and increasing tonne-mile demand for petrol products [6][7] - The MR orderbook is at a historical low of 7.7% of the fleet, with a significant portion of the fleet being over 20 years old, indicating a need for replacement [6][7] Company Performance - Ardmore Shipping Corporation (ASC) reported a net revenue of $395.978 million in FY23, a decrease of 11% from $445.741 million in FY22, with net income attributable to common stockholders at $113.408 million, down 16% year-over-year [11][12] - Despite lower revenues, ASC achieved strong cash flow performance, generating $159 million in operating cash flow and $134 million in free cash flow in FY23, compared to $124 million and $120 million respectively in FY22 [12][18] - The average TCE (Time Charter Equivalent) rates for ASC increased from $27,460/day in 2Q23 to $35,400/day in 1Q24, with a cash break-even cost of $13,900/day [9][12] Fleet and Operational Strategy - ASC's fleet consists of 1 MR tanker, 17 product/chemical MR tankers, and 4 Handysize tankers, with an average fleet age of 9.6 years [8][19] - The company has installed scrubbers on 25% of its fleet, enhancing its competitive position in the market due to higher TCE rates for scrubber-equipped vessels [8][19] - ASC plans to retrofit five more MR tankers with scrubbers in FY24, further improving operational efficiency [8] Financial Metrics and Valuation - ASC's dividend yield stands at 5.43% with a payout ratio of 33.3%, indicating a safe dividend distribution [17][18] - The company has a conservative balance sheet with total debt/equity at 16% and total liabilities/total assets at 16.9%, allowing for low service costs [19] - ASC is considered relatively cheap compared to competitors based on EV/Sales and EV/EBITDA metrics [20][21] Market Position and Outlook - ASC operates in a niche market focused solely on MR tankers, with no direct competitors in the product tanker segment [22] - The demand for MR vessels is expected to remain strong due to global needs for refined petrol products and chemicals, with a projected 11% year-over-year growth in tonne-mile demand in 2023 [7][25] - The company is positioned to benefit from the anticipated resilience in MR TCE rates in 2024, supported by favorable market conditions [7][25]

Core Viewpoint - Ardmore Shipping's recent trading performance shows a slight decline, underperforming major indices, while upcoming financial results are anticipated to reflect a significant year-over-year decline in earnings and revenue [1][2]. Company Performance - Ardmore Shipping's stock closed at $16.39, reflecting a -0.06% change from the previous day, while the S&P 500 gained 0.89% [1]. - Over the past month, Ardmore Shipping's shares increased by 2.31%, outperforming the Transportation sector's 0.81% gain but underperforming the S&P 500's 3.56% increase [1]. - The company is projected to report earnings of $0.77 per share, indicating a year-over-year decline of 25.96%, with expected revenue of $68.13 million, down 16.58% from the same quarter last year [1]. Fiscal Year Estimates - For the entire fiscal year, earnings are estimated at $2.60 per share and revenue at $249.15 million, reflecting declines of -4.06% and -5.65% respectively from the previous year [2]. - Changes in analyst estimates for Ardmore Shipping are crucial as they reflect short-term business trends, with upward revisions indicating positive sentiment towards the company's operations [2]. Valuation and Industry Ranking - Ardmore Shipping currently has a Forward P/E ratio of 6.32, which is lower than the industry average of 8.22, suggesting a valuation discount [3]. - The Transportation - Shipping industry holds a Zacks Industry Rank of 90, placing it in the top 36% of over 250 industries, indicating strong performance relative to peers [3].

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about Ardmore Shipping (ASC) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Ardmore Shipping currently has an average brokerage reco ...

HAMILTON, Bermuda, March 15, 2024 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company") announced today that it has filed its Annual Report on Form 20-F for the year ended December 31, 2023 (the "Form 20-F") with the U.S. Securities and Exchange Commission (the "SEC"). In compliance with the New York Stock Exchange rules, a copy of the Form 20-F can be found in the Investor Relations section of the Company's website, www.ardmoreshipping.com, under SEC Filings. About Ardmore S ...

NONE (Title of class) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO ...

Core Insights - The initiation of coverage by new analysts can significantly benefit investors and influence financial markets, providing valuable insights into a company's financial health, growth potential, competitive position, and industry trends [1] - Ardmore Shipping Corporation (ASC) and DHT Holdings, Inc. (DHT) have recently received new analyst coverage, indicating their potential value and growth opportunities for investors [1] Analyst Coverage Impact - Stocks that receive new analyst coverage often experience gradual upward price movements, with the extent of these movements influenced by the analysts' recommendations [2] - Positive recommendations such as "Buy" and "Strong Buy" lead to more substantial price reactions compared to negative recommendations [2] - Increased attention from investors and portfolio managers is observed for companies with limited prior analyst coverage when new recommendations are made [2] Investment Strategy - Focusing on the number of recent analyst recommendations can provide insights into overall sentiment and potential stock trajectory, aiding in informed investment decisions [3] - Screening criteria include an increase in broker ratings compared to four weeks ago and an improvement in average broker ratings [4] Screening Parameters - Additional screening parameters include a stock price of at least $5 and an average daily volume of at least 100,000 shares to attract investor interest [5] Company Performance - Ardmore Shipping (ASC) has seen a 25.4% share price increase over the past six months, outperforming the industry's 21.9% rise, with EPS estimates for 2024 rising to $2.60 from $2.44 [6] - DHT Holdings (DHT) shares have increased by 22.4% over the past six months, also outperforming the industry's 21.9% rise, with earnings estimates indicating a 43.4% year-over-year growth [7]

Ardmore Shipping (ASC) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this shipping company have returned -5.5% over the past month versus the Zacks S&P 500 composite's +2.1% change. The Zacks Transportation - Shipping industry, to which Ardmore Shipping belongs, has gained 3.1% over this period. Now the key question is: Where could the stock be headed in the near ter ...

One stock that might be an intriguing choice for investors right now is Ardmore Shipping Corporation (ASC) . This is because this security in the Transportation - Shipping space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking pl ...