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Ardmore Shipping (ASC) Gains But Lags Market: What You Should Know
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Ardmore Shipping (ASC - Free Report) closed at $13.29 in the latest trading session, marking a +0.23% move from the prior day. This move lagged the S&P 500's daily gain of 0.65%. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.48%.
Shares of the shipping company witnessed a gain of 4.66% over the previous month, beating the performance of the Transportation sector with its loss of 6.86% and the S&P 500's loss of 2.79%.
Market participants will be closely following the financial results of Ardmore Shipping in its upcoming release. The company plans to announce its earnings on November 7, 2023. The company is forecasted to report an EPS of $0.43, showcasing a 72.08% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $53.94 million, indicating a 44.07% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.61 per share and a revenue of $255.37 million, signifying shifts of -30.21% and -12.55%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Ardmore Shipping. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.36% higher. Ardmore Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 5.08. This expresses a discount compared to the average Forward P/E of 7.39 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Ardmore Shipping (ASC) Gains But Lags Market: What You Should Know
Ardmore Shipping (ASC - Free Report) closed at $13.29 in the latest trading session, marking a +0.23% move from the prior day. This move lagged the S&P 500's daily gain of 0.65%. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.48%.
Shares of the shipping company witnessed a gain of 4.66% over the previous month, beating the performance of the Transportation sector with its loss of 6.86% and the S&P 500's loss of 2.79%.
Market participants will be closely following the financial results of Ardmore Shipping in its upcoming release. The company plans to announce its earnings on November 7, 2023. The company is forecasted to report an EPS of $0.43, showcasing a 72.08% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $53.94 million, indicating a 44.07% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.61 per share and a revenue of $255.37 million, signifying shifts of -30.21% and -12.55%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Ardmore Shipping. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.36% higher. Ardmore Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 5.08. This expresses a discount compared to the average Forward P/E of 7.39 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.