Ardmore Shipping (ASC) ended the recent trading session at $9.82, demonstrating a +1.97% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.27%.
The shipping company's shares have seen a decrease of 1.93% over the last month, not keeping up with the Transportation sector's gain of 6.65% and the S&P 500's gain of 6.9%.
The investment community will be paying close attention to the earnings performance of Ardmore Shipping in its upcoming release. 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 annual period, the Zacks Consensus Estimates anticipate earnings of $1.17 per share and a revenue of $180.69 million, signifying shifts of -58.8% and -33.85%, respectively, from the last year.
Any recent changes to analyst estimates for Ardmore Shipping should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 past month, there's been no change in the Zacks Consensus EPS estimate. Ardmore Shipping currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Ardmore Shipping is currently being traded at a Forward P/E ratio of 8.23. This expresses a discount compared to the average Forward P/E of 8.99 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 184, this industry ranks in the bottom 26% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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