Ardmore Shipping (ASC) ended the recent trading session at $9.75, demonstrating a -0.41% swing from the preceding day's closing price. This change lagged the S&P 500's 0.38% gain on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq appreciated by 0.87%.
Prior to today's trading, shares of the shipping company had gained 6.88% over the past month. This has outpaced the Transportation sector's loss of 7.25% and the S&P 500's loss of 5.59% in that time.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. The company's upcoming EPS is projected at $0.20, signifying a 78.26% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $44.23 million, down 41.61% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.06 per share and revenue of $177.83 million, indicating changes of -62.68% and -34.9%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Ardmore Shipping currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Ardmore Shipping currently has a Forward P/E ratio of 9.24. This indicates a premium in contrast to its industry's Forward P/E of 8.76.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 156, this industry ranks in the bottom 38% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ardmore Shipping Corporation (ASC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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