Ardmore Shipping (ASC) closed at $13.24 in the latest trading session, marking a +1.53% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.13%. On the other hand, the Dow registered a loss of 0.27%, and the technology-centric Nasdaq decreased by 0.07%.
Prior to today's trading, shares of the shipping company had gained 19.31% outpaced the Transportation sector's loss of 0.76% and the S&P 500's gain of 2.71%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. In that report, analysts expect Ardmore Shipping to post earnings of $0.28 per share. This would mark a year-over-year decline of 49.09%. Our most recent consensus estimate is calling for quarterly revenue of $43.64 million, down 29.09% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.2 per share and a revenue of $191.59 million, representing changes of -57.75% and -29.86%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Ardmore Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Ardmore Shipping holds a Zacks Rank of #2 (Buy).
Investors should also note Ardmore Shipping's current valuation metrics, including its Forward P/E ratio of 10.87. This expresses a discount compared to the average Forward P/E of 11.34 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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 Corporation (ASC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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