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Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
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In the latest trading session, Ardmore Shipping (ASC - Free Report) closed at $14.22, marking a +0.85% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq gained 1.39%.
Coming into today, shares of the shipping company had lost 3.56% in the past month. In that same time, the Transportation sector gained 4.16%, while the S&P 500 gained 4.01%.
Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. The company is expected to report EPS of $1.11, up 544% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $83.94 million, up 201.18% from the prior-year quarter.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has moved 30.28% higher. Ardmore Shipping is currently a Zacks Rank #2 (Buy).
Digging into valuation, Ardmore Shipping currently has a Forward P/E ratio of 5.51. This valuation marks a premium compared to its industry's average Forward P/E of 5.32.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.
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Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
In the latest trading session, Ardmore Shipping (ASC - Free Report) closed at $14.22, marking a +0.85% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq gained 1.39%.
Coming into today, shares of the shipping company had lost 3.56% in the past month. In that same time, the Transportation sector gained 4.16%, while the S&P 500 gained 4.01%.
Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. The company is expected to report EPS of $1.11, up 544% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $83.94 million, up 201.18% from the prior-year quarter.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has moved 30.28% higher. Ardmore Shipping is currently a Zacks Rank #2 (Buy).
Digging into valuation, Ardmore Shipping currently has a Forward P/E ratio of 5.51. This valuation marks a premium compared to its industry's average Forward P/E of 5.32.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.