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Ardmore Shipping (ASC) Stock Declines While Market Improves: Some Information for Investors
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The latest trading session saw Ardmore Shipping (ASC - Free Report) ending at $14.25, denoting a -0.7% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.14%. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 0.16%.
The shipping company's shares have seen an increase of 6.61% over the last month, not keeping up with the Transportation sector's gain of 8.25% and outstripping the S&P 500's gain of 4.89%.
Market participants will be closely following the financial results of Ardmore Shipping in its upcoming release. It is anticipated that the company will report an EPS of $0.59, marking a 54.62% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $60.22 million, indicating a 35.48% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.68 per share and a revenue of $258.59 million, signifying shifts of -28.34% and -11.45%, 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Ardmore Shipping is carrying a Zacks Rank of #2 (Buy).
From a valuation perspective, Ardmore Shipping is currently exchanging hands at a Forward P/E ratio of 5.36. This signifies a discount in comparison to the average Forward P/E of 8.15 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 60, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Ardmore Shipping (ASC) Stock Declines While Market Improves: Some Information for Investors
The latest trading session saw Ardmore Shipping (ASC - Free Report) ending at $14.25, denoting a -0.7% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.14%. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 0.16%.
The shipping company's shares have seen an increase of 6.61% over the last month, not keeping up with the Transportation sector's gain of 8.25% and outstripping the S&P 500's gain of 4.89%.
Market participants will be closely following the financial results of Ardmore Shipping in its upcoming release. It is anticipated that the company will report an EPS of $0.59, marking a 54.62% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $60.22 million, indicating a 35.48% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.68 per share and a revenue of $258.59 million, signifying shifts of -28.34% and -11.45%, 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Ardmore Shipping is carrying a Zacks Rank of #2 (Buy).
From a valuation perspective, Ardmore Shipping is currently exchanging hands at a Forward P/E ratio of 5.36. This signifies a discount in comparison to the average Forward P/E of 8.15 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 60, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.