Ardmore Shipping (ASC) closed at $10.13 in the latest trading session, marking a -3.89% move from the prior day. This move lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.51%.
The stock of shipping company has risen by 9.91% in the past month, leading the Transportation sector's loss of 2.83% and the S&P 500's gain of 0.45%.
Analysts and investors alike will be keeping a close eye on the performance of Ardmore Shipping in its upcoming earnings disclosure. On that day, Ardmore Shipping is projected to report earnings of $0.24 per share, which would represent a year-over-year decline of 78.76%. Meanwhile, our latest consensus estimate is calling for revenue of $44.45 million, down 48.68% from the prior-year quarter.
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.
It's also important for investors to be aware of any recent modifications 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 business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Ardmore Shipping possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Ardmore Shipping is at present trading with a Forward P/E ratio of 9.01. This denotes a discount relative to the industry average Forward P/E of 9.62.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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 Corporation (ASC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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