Ardmore Shipping Corporation (NYSE: ASC) continues to surpass consensus expectations, beating earnings for the fifth consecutive quarter on May 8. The company raised its dividend by 47%, demonstrating strong financial performance. ASC’s stock has surged 66% in the past year and nearly 50% year-to-date, outperforming the market.
With a projected 24% increase in EPS for FY24, ASC is poised for further growth. The company operates in the seaborne transportation of petroleum products and chemicals globally, with a fleet of 26 vessels. ASC’s profitability metrics are impressive, with high profit margins and solid financial health.
The company’s dividend growth rate is strong, with a dividend yield of 4.31% TTM and 5.87% FWD. ASC also boasts a low volatility Beta of 0.37 and a solid Altman Z Score of 4.97, indicating financial stability. Despite some concerns about earnings projections for FY25 and FY26, ASC remains a top pick for investors.
In conclusion, Ardmore Shipping Corporation is a compelling investment opportunity with strong momentum, growth prospects, and profitability. The company’s consistent performance and dividend growth make it an attractive option for investors looking for stable returns.