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Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
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The most recent trading session ended with Ardmore Shipping (ASC - Free Report) standing at $18.41, reflecting a +0.49% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The shipping company's shares have seen an increase of 6.39% over the last month, surpassing the Transportation sector's gain of 1.13% and the S&P 500's gain of 4.3%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is expected to report EPS of $0.80, up 63.27% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $71.61 million, indicating a 27.18% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $3.47 per share and a revenue of $297.37 million, demonstrating changes of +28.04% and +12.61%, respectively, from the preceding 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Ardmore Shipping possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 5.29. This denotes a discount relative to the industry's average Forward P/E of 8.13.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
The most recent trading session ended with Ardmore Shipping (ASC - Free Report) standing at $18.41, reflecting a +0.49% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The shipping company's shares have seen an increase of 6.39% over the last month, surpassing the Transportation sector's gain of 1.13% and the S&P 500's gain of 4.3%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is expected to report EPS of $0.80, up 63.27% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $71.61 million, indicating a 27.18% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $3.47 per share and a revenue of $297.37 million, demonstrating changes of +28.04% and +12.61%, respectively, from the preceding 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Ardmore Shipping possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 5.29. This denotes a discount relative to the industry's average Forward P/E of 8.13.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.