Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
In the latest trading session, Ardmore Shipping (ASC) closed at $9.27, marking a +1.31% move from the previous day. This change outpaced the S&P 500's 1.03% loss on the day. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Coming into today, shares of the shipping company had lost 5.67% in the past month. In that same time, the Transportation sector lost 15.42%, while the S&P 500 lost 10.4%.
Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. In that report, analysts expect Ardmore Shipping to post earnings of $1.23 per share. This would mark year-over-year growth of 432.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $82.81 million, up 243.61% from the year-ago period.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.69 per share and revenue of $235.88 million. These results would represent year-over-year changes of +342.34% and +127.01%, respectively.
Investors might also notice recent changes 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 11.18% higher. Ardmore Shipping is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Ardmore Shipping currently has a Forward P/E ratio of 3.41. This represents a premium compared to its industry's average Forward P/E of 3.08.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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