Ardmore Shipping (ASC) Dips More Than Broader Markets: What You Should Know
Ardmore Shipping (ASC) closed at $15.36 in the latest trading session, marking a -1.98% move from the prior day. This change lagged the S&P 500's daily loss of 1.58%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 11.95%.
Coming into today, shares of the shipping company had gained 3.5% in the past month. In that same time, the Transportation sector gained 5.81%, while the S&P 500 gained 4.27%.
Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. The company is expected to report EPS of $1.21, up 4133.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $87.27 million, up 140.48% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.54 per share and revenue of $247.1 million, which would represent changes of -32.09% and -15.38%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 2.63% higher. Ardmore Shipping is currently a Zacks Rank #2 (Buy).
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 6.17. For comparison, its industry has an average Forward P/E of 6.41, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report
