ASC - Ardmore Shipping: The Dividend Policy Doesn't Deserve A Premium Valuation Sell (Rating Downgrade)
2024-05-15 17:49:06 ET
Summary
- Ardmore Shipping's stock has risen 15% following Q1 results, but the author recommends downgrading it to a sell.
- The product tanker outlook remains strong due to ongoing disruptions and increasing oil demand.
- Ardmore Shipping's financial position is robust, but the stock is trading above its net asset value and lacks attractive shareholder returns.
Ardmore Shipping ( ASC ) is a shipping company specializing in the ownership and operation of small product and chemical tankers. ASC owns a fleet of 18 MR eco product tankers and 4 handysize tankers. Additionally, the company operates 4 additional vessels through charter agreements....
Ardmore Shipping: The Dividend Policy Doesn't Deserve A Premium Valuation, Sell (Rating Downgrade)