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Ardmore Shipping (ASC) Dips More Than Broader Markets: What You Should Know
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Ardmore Shipping (ASC - Free Report) closed at $14.48 in the latest trading session, marking a -1.43% move from the prior day. This change lagged the S&P 500's 0.04% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq added 2.14%.
Coming into today, shares of the shipping company had lost 1.21% in the past month. In that same time, the Transportation sector gained 0.21%, while the S&P 500 gained 5.1%.
Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. This is expected to be May 9, 2023. On that day, Ardmore Shipping is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 3566.67%. Our most recent consensus estimate is calling for quarterly revenue of $80.19 million, up 120.97% from the year-ago period.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.93 per share and revenue of $264.03 million. These results would represent year-over-year changes of -21.66% and -9.58%, respectively.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 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 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 18.38% higher. Ardmore Shipping is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 5.01. This valuation marks a discount compared to its industry's average Forward P/E of 6.19.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.
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Ardmore Shipping (ASC) Dips More Than Broader Markets: What You Should Know
Ardmore Shipping (ASC - Free Report) closed at $14.48 in the latest trading session, marking a -1.43% move from the prior day. This change lagged the S&P 500's 0.04% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq added 2.14%.
Coming into today, shares of the shipping company had lost 1.21% in the past month. In that same time, the Transportation sector gained 0.21%, while the S&P 500 gained 5.1%.
Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. This is expected to be May 9, 2023. On that day, Ardmore Shipping is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 3566.67%. Our most recent consensus estimate is calling for quarterly revenue of $80.19 million, up 120.97% from the year-ago period.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.93 per share and revenue of $264.03 million. These results would represent year-over-year changes of -21.66% and -9.58%, respectively.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 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 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 18.38% higher. Ardmore Shipping is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 5.01. This valuation marks a discount compared to its industry's average Forward P/E of 6.19.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.