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Ardmore Shipping (ASC) Outpaces Stock Market Gains: What You Should Know
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Ardmore Shipping (ASC - Free Report) closed at $12.97 in the latest trading session, marking a +0.93% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 5.28%.
Prior to today's trading, shares of the shipping company had gained 7.53% over the past month. This has outpaced the Transportation sector's gain of 7.46% and the S&P 500's gain of 4.86% in that time.
Ardmore Shipping will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. On that day, Ardmore Shipping is projected to report earnings of $0.56 per share, which would represent a year-over-year decline of 30.86%. Our most recent consensus estimate is calling for quarterly revenue of $61.89 million, down 6.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.50 per share and revenue of $250.9 million. These totals would mark changes of -33.16% and -14.08%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.23% lower within the past month. Ardmore Shipping is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Ardmore Shipping is holding a Forward P/E ratio of 5.14. For comparison, its industry has an average Forward P/E of 7.14, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ardmore Shipping (ASC) Outpaces Stock Market Gains: What You Should Know
Ardmore Shipping (ASC - Free Report) closed at $12.97 in the latest trading session, marking a +0.93% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 5.28%.
Prior to today's trading, shares of the shipping company had gained 7.53% over the past month. This has outpaced the Transportation sector's gain of 7.46% and the S&P 500's gain of 4.86% in that time.
Ardmore Shipping will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. On that day, Ardmore Shipping is projected to report earnings of $0.56 per share, which would represent a year-over-year decline of 30.86%. Our most recent consensus estimate is calling for quarterly revenue of $61.89 million, down 6.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.50 per share and revenue of $250.9 million. These totals would mark changes of -33.16% and -14.08%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.23% lower within the past month. Ardmore Shipping is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Ardmore Shipping is holding a Forward P/E ratio of 5.14. For comparison, its industry has an average Forward P/E of 7.14, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.