We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
The latest trading session saw Ardmore Shipping (ASC - Free Report) ending at $14.30, denoting a +1.49% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq decreased by 1.64%.
Shares of the shipping company witnessed a gain of 0.71% over the previous month, trailing the performance of the Transportation sector with its gain of 4.57% and the S&P 500's gain of 4%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is expected to report EPS of $0.59, down 54.62% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $60.22 million, indicating a 35.48% downward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ardmore Shipping. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Ardmore Shipping currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Ardmore Shipping is currently exchanging hands at a Forward P/E ratio of 6.68. Its industry sports an average Forward P/E of 6.93, so one might conclude that Ardmore Shipping is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.
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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
The latest trading session saw Ardmore Shipping (ASC - Free Report) ending at $14.30, denoting a +1.49% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq decreased by 1.64%.
Shares of the shipping company witnessed a gain of 0.71% over the previous month, trailing the performance of the Transportation sector with its gain of 4.57% and the S&P 500's gain of 4%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is expected to report EPS of $0.59, down 54.62% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $60.22 million, indicating a 35.48% downward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ardmore Shipping. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Ardmore Shipping currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Ardmore Shipping is currently exchanging hands at a Forward P/E ratio of 6.68. Its industry sports an average Forward P/E of 6.93, so one might conclude that Ardmore Shipping is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.
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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.