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Ardmore Shipping (ASC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Ardmore Shipping (ASC - Free Report) closed at $21.32, marking a +1.62% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.25% for the day. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.03%.
The shipping company's stock has dropped by 7.45% in the past month, falling short of the Transportation sector's loss of 4.81% and the S&P 500's gain of 3.34%.
The investment community will be paying close attention to the earnings performance of Ardmore Shipping in its upcoming release. The company's earnings per share (EPS) are projected to be $1.03, reflecting an 80.7% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $79.79 million, reflecting a 32.1% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.25 per share and revenue of $280.31 million, indicating changes of +19.93% and +6.15%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ardmore Shipping. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained steady. Ardmore Shipping is currently a Zacks Rank #3 (Hold).
Looking at valuation, Ardmore Shipping is presently trading at a Forward P/E ratio of 6.47. This expresses a discount compared to the average Forward P/E of 7.54 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 83, placing it within the top 33% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Ardmore Shipping (ASC) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Ardmore Shipping (ASC - Free Report) closed at $21.32, marking a +1.62% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.25% for the day. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.03%.
The shipping company's stock has dropped by 7.45% in the past month, falling short of the Transportation sector's loss of 4.81% and the S&P 500's gain of 3.34%.
The investment community will be paying close attention to the earnings performance of Ardmore Shipping in its upcoming release. The company's earnings per share (EPS) are projected to be $1.03, reflecting an 80.7% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $79.79 million, reflecting a 32.1% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.25 per share and revenue of $280.31 million, indicating changes of +19.93% and +6.15%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ardmore Shipping. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained steady. Ardmore Shipping is currently a Zacks Rank #3 (Hold).
Looking at valuation, Ardmore Shipping is presently trading at a Forward P/E ratio of 6.47. This expresses a discount compared to the average Forward P/E of 7.54 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 83, placing it within the top 33% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.