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Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know

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Ardmore Shipping (ASC - Free Report) closed at $9.32 in the latest trading session, marking a +0.98% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.65%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.18%.

Coming into today, shares of the shipping company had lost 6.86% in the past month. In that same time, the Transportation sector lost 14.3%, while the S&P 500 lost 11.07%.

Investors will be hoping for strength from Ardmore Shipping as it approaches its next earnings release. The company is expected to report EPS of $1.23, up 432.43% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $82.81 million, up 243.61% from the prior-year quarter.

ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.69 per share and revenue of $235.88 million. These results would represent year-over-year changes of +342.34% and +127.01%, respectively.

Any recent changes to analyst estimates for Ardmore Shipping should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Ardmore Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 3.44 right now. Its industry sports an average Forward P/E of 3.03, so we one might conclude that Ardmore Shipping is trading at a premium comparatively.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.


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