Ardmore Shipping (ASC) Stock Slides as Market Rises: Facts to Know Before You Trade
Ardmore Shipping (ASC) closed the most recent trading day at $16.16, moving -0.8% from the previous trading session. This change lagged the S&P 500's 0.23% gain on the day. Elsewhere, the Dow gained 0.37%, while the tech-heavy Nasdaq added 0.07%.
Shares of the shipping company witnessed a gain of 8.82% over the previous month, beating the performance of the Transportation sector with its gain of 0.29% and the S&P 500's gain of 5.3%.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. It is anticipated that the company will report an EPS of $0.59, marking a 54.62% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $60.6 million, indicating a 35.07% decrease compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 15.4% higher within the past month. Ardmore Shipping currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Ardmore Shipping is presently being traded at a Forward P/E ratio of 6.69. This expresses a discount compared to the average Forward P/E of 7.04 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning it in the top 29% 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
