Analysts ratcheted down their outlook for Ardmore Shipping’s earnings and stock price but remained undeterred in their positive outlook for the products tanker owner.
Investment banks Stifel and JP Morgan both reduced their earnings-per-share (EPS) estimates for the New York-listed company today as a result of lower expectations for medium-range (MR) tanker rates.
JP Morgan analyst Noah Parquette cut 8.1% from his EPS estimate for the full year, which he now expects to come in at $0.68
