Ardmore Shipping (ASC) ended the recent trading session at $11.99, demonstrating a +0.17% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 1.11%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.49%.
Shares of the shipping company have appreciated by 5% over the course of the past month, outperforming the Transportation sector's loss of 6.43% and the S&P 500's gain of 0.4%.
The investment community will be paying close attention to the earnings performance of Ardmore Shipping in its upcoming release. The company is forecasted to report an EPS of $0.37, showcasing a 41.27% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $53.93 million, indicating a 17.93% decline compared to the corresponding quarter of the prior year.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.97 per share and revenue of $277.84 million. These results would represent year-over-year changes of +9.59% and +5.21%, respectively.
It is also important to note the recent changes to analyst estimates for Ardmore Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 0.5% lower. Ardmore Shipping is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 4.04 right now. This expresses a discount compared to the average Forward P/E of 6.09 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpArdmore Shipping Corporation (ASC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
