In the latest market close, Ardmore Shipping (ASC) reached $9.67, with a -0.36% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.83%.
Shares of the shipping company have depreciated by 0.31% over the course of the past month, underperforming the Transportation sector's gain of 4.87% and the S&P 500's gain of 5.17%.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 78.76% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $44.45 million, down 48.68% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.17 per share and revenue of $180.69 million, which would represent changes of -58.8% and -33.85%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Ardmore Shipping. Recent revisions tend to reflect the latest 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 32.96% increase. Ardmore Shipping is currently a Zacks Rank #3 (Hold).
Investors should also note Ardmore Shipping's current valuation metrics, including its Forward P/E ratio of 8.29. This represents a discount compared to its industry's average Forward P/E of 8.89.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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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