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Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
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Ardmore Shipping (ASC - Free Report) closed at $21.30 in the latest trading session, marking a +0.14% move from the prior day. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The the stock of shipping company has fallen by 4.66% in the past month, lagging the Transportation sector's gain of 2.05% and the S&P 500's gain of 1.96%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. The company's upcoming EPS is projected at $1.03, signifying an 80.7% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $79.79 million, indicating a 32.1% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.25 per share and a revenue of $280.31 million, indicating changes of +19.93% and +6.15%, respectively, from the former 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% 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 its valuation, Ardmore Shipping is holding a Forward P/E ratio of 6.55. This expresses a discount compared to the average Forward P/E of 7.49 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
Ardmore Shipping (ASC - Free Report) closed at $21.30 in the latest trading session, marking a +0.14% move from the prior day. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The the stock of shipping company has fallen by 4.66% in the past month, lagging the Transportation sector's gain of 2.05% and the S&P 500's gain of 1.96%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. The company's upcoming EPS is projected at $1.03, signifying an 80.7% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $79.79 million, indicating a 32.1% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.25 per share and a revenue of $280.31 million, indicating changes of +19.93% and +6.15%, respectively, from the former 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% 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 its valuation, Ardmore Shipping is holding a Forward P/E ratio of 6.55. This expresses a discount compared to the average Forward P/E of 7.49 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.