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Ardmore Shipping (ASC) Ascends While Market Falls: Some Facts to Note
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The most recent trading session ended with Ardmore Shipping (ASC - Free Report) standing at $20.81, reflecting a +0.19% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.93%.
Prior to today's trading, shares of the shipping company had lost 8.5% over the past month. This has lagged the Transportation sector's loss of 1.66% and the S&P 500's loss of 0.26% in that time.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. The company's earnings report is expected on July 31, 2024. On that day, Ardmore Shipping is projected to report earnings of $1.07 per share, which would represent year-over-year growth of 87.72%. Alongside, our most recent consensus estimate is anticipating revenue of $79.79 million, indicating a 32.1% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.33 per share and a revenue of $280.31 million, signifying shifts of +22.88% and +6.15%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has shifted 2.47% upward. Ardmore Shipping currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Ardmore Shipping is presently being traded at a Forward P/E ratio of 6.25. For comparison, its industry has an average Forward P/E of 7.94, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Ardmore Shipping (ASC) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with Ardmore Shipping (ASC - Free Report) standing at $20.81, reflecting a +0.19% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.93%.
Prior to today's trading, shares of the shipping company had lost 8.5% over the past month. This has lagged the Transportation sector's loss of 1.66% and the S&P 500's loss of 0.26% in that time.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. The company's earnings report is expected on July 31, 2024. On that day, Ardmore Shipping is projected to report earnings of $1.07 per share, which would represent year-over-year growth of 87.72%. Alongside, our most recent consensus estimate is anticipating revenue of $79.79 million, indicating a 32.1% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.33 per share and a revenue of $280.31 million, signifying shifts of +22.88% and +6.15%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has shifted 2.47% upward. Ardmore Shipping currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Ardmore Shipping is presently being traded at a Forward P/E ratio of 6.25. For comparison, its industry has an average Forward P/E of 7.94, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.