Ardmore Shipping (ASC - Free Report) closed the latest trading day at $16.60, indicating a -0.95% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.72%. Elsewhere, the Dow lost 1%, while the tech-heavy Nasdaq lost 0.95%.
Prior to today's trading, shares of the shipping company had gained 7.64% over the past month. This has outpaced the Transportation sector's gain of 1.19% and the S&P 500's gain of 2.16% in that time.
The investment community will be paying close attention to the earnings performance of Ardmore Shipping in its upcoming release. On that day, Ardmore Shipping is projected to report earnings of $0.77 per share, which would represent a year-over-year decline of 25.96%. Meanwhile, our latest consensus estimate is calling for revenue of $68.13 million, down 16.58% from the prior-year quarter.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.60 per share and revenue of $249.15 million. These results would represent year-over-year changes of -4.06% and -5.65%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Ardmore Shipping. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ardmore Shipping currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 6.46 right now. This expresses a discount compared to the average Forward P/E of 8.08 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% 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.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.
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Ardmore Shipping (ASC - Free Report) closed the latest trading day at $16.60, indicating a -0.95% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.72%. Elsewhere, the Dow lost 1%, while the tech-heavy Nasdaq lost 0.95%.
Prior to today's trading, shares of the shipping company had gained 7.64% over the past month. This has outpaced the Transportation sector's gain of 1.19% and the S&P 500's gain of 2.16% in that time.
The investment community will be paying close attention to the earnings performance of Ardmore Shipping in its upcoming release. On that day, Ardmore Shipping is projected to report earnings of $0.77 per share, which would represent a year-over-year decline of 25.96%. Meanwhile, our latest consensus estimate is calling for revenue of $68.13 million, down 16.58% from the prior-year quarter.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.60 per share and revenue of $249.15 million. These results would represent year-over-year changes of -4.06% and -5.65%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Ardmore Shipping. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ardmore Shipping currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 6.46 right now. This expresses a discount compared to the average Forward P/E of 8.08 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% 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.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
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