Ardmore Shipping (ASC) Outpaces Stock Market Gains: What You Should Know
Ardmore Shipping (ASC) closed at $20.27 in the latest trading session, marking a +1.35% move from the prior day. The stock's change was more than the S&P 500's daily gain of 1.02%. On the other hand, the Dow registered a gain of 1.09%, and the technology-centric Nasdaq increased by 1.18%.
The shipping company's shares have seen a decrease of 9.17% over the last month, not keeping up with the Transportation sector's loss of 2.97% and the S&P 500's gain of 4.44%.
Investors will be eagerly watching for the performance of Ardmore Shipping in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.03, reflecting an 80.7% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $79.79 million, showing a 32.1% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.25 per share and revenue of $280.31 million, which would represent changes of +19.93% and +6.15%, respectively, from the prior year.
Any recent changes to analyst estimates for Ardmore Shipping should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Ardmore Shipping is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Ardmore Shipping is currently exchanging hands at a Forward P/E ratio of 6.16. This expresses a discount compared to the average Forward P/E of 7.22 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 34, placing it within the top 14% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report
