Ardmore Shipping: A Bet On The MR Tanker Market For Income-Minded Investors [Seeking Alpha]
Ardmore Shipping Corporation (ASC)
Last ardmore shipping corporation earnings: 2/11 08:30 am
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US:NYSE Investor Relations:
ardmoreshipping.com
Company Research
Source: Seeking Alpha
Ardmore Shipping is a niche bet on the growing deficit of MR tankers. The company has an MR-focused fleet with an average age of 9.6 years. FY23 revenue and net income declined despite the strong day rates. However, ASC delivered strong cash flow growth YoY. ASC pays dividends with a 5.43% yield at a 33% payout. The company maintains a conservative balance sheet with 16.9% total liabilities/total assets. Compared to its peers, ASC trades at a reasonable discount. The company has a 94% P/NAV and 13% gross LTV. Note: I previously covered Ardmore Shipping Corporation ( NYSE: ASC ). In my previous article, I discussed the product tankers market and the company's merits (conservative balance sheet, MR-only fleet, and reasonable valuation). In today's take on ASC, I will review the MRs market, FY23 results, and ASC's valuation. MR tankers market preview The MR market is picking up, as seen in the chart below. 2024 rates are higher than the seasonal 2019-2023 average (Pacific
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News
- Is Ardmore Shipping (ASC) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
- Is Ardmore Shipping (ASC) Outperforming Other Transportation Stocks This Year? [Yahoo! Finance]Yahoo! Finance
- Ardmore Shipping Co. (NYSE: ASC) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Ardmore Shipping (ASC) Outperforms Broader Market: What You Need to Know [Yahoo! Finance]Yahoo! Finance
- Ardmore Shipping (ASC) Is a Great Choice for 'Trend' Investors, Here's Why [Yahoo! Finance]Yahoo! Finance
ASC
Earnings
- 2/15/24 - Beat
ASC
Sec Filings
- 5/3/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/2/24 - Form 144
- ASC's page on the SEC website