In the latest trading session, Ardmore Shipping (ASC) closed at $9.20, marking a -1.81% move from the previous day. This change lagged the S&P 500's 3.06% gain on the day. Elsewhere, the Dow gained 2.8%, while the tech-heavy Nasdaq added 0.19%.
Prior to today's trading, shares of the shipping company had lost 5.64% over the past month. This has was narrower than the Transportation sector's loss of 10.41% and the S&P 500's loss of 6.15% in that time.
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%. Our most recent consensus estimate is calling for quarterly revenue of $82.81 million, up 243.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.69 per share and revenue of $235.88 million. These totals would mark changes of +342.34% and +127.01%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 11.18% higher within the past month. Ardmore Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Ardmore Shipping is holding a Forward P/E ratio of 3.49. For comparison, its industry has an average Forward P/E of 3.07, which means Ardmore Shipping is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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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