Ardmore Shipping (ASC) ended the recent trading session at $10.28, demonstrating a -1.15% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.07%. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.03%.
Heading into today, shares of the shipping company had gained 8.45% over the past month, outpacing the Transportation sector's gain of 2.01% and the S&P 500's gain of 3.94%.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. Meanwhile, the latest consensus estimate predicts the revenue to be $44.45 million, indicating a 48.68% decrease compared to the same quarter of the previous year.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $1.36 per share and revenue of $180.69 million. These results would represent year-over-year changes of -52.11% and -33.85%, respectively.
It is also important to note the recent changes to analyst estimates for Ardmore Shipping. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 16.24% higher. As of now, Ardmore Shipping holds a Zacks Rank of #2 (Buy).
Looking at valuation, Ardmore Shipping is presently trading at a Forward P/E ratio of 7.65. This indicates a discount in contrast to its industry's Forward P/E of 9.01.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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