In the latest trading session, Ardmore Shipping (ASC) closed at $10, marking no change from the previous day. This change was narrower than the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.45%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Prior to today's trading, shares of the shipping company had gained 2.04% over the past month. This has outpaced the Transportation sector's loss of 8.53% and the S&P 500's loss of 9.06% in that time.
Ardmore Shipping will be looking to display strength as it nears its next earnings release. On that day, Ardmore Shipping is projected to report earnings of $1.23 per share, which would represent year-over-year growth of 432.43%. Meanwhile, our latest consensus estimate is calling for revenue of $82.81 million, up 243.61% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $235.88 million, which would represent changes of +342.34% and +127.01%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Ardmore Shipping. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 11.18% higher. Ardmore Shipping currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 3.72 right now. Its industry sports an average Forward P/E of 3.58, so we one might conclude that Ardmore Shipping is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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