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Ardmore Shipping (ASC) Stock Sinks As Market Gains: What You Should Know
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Ardmore Shipping (ASC - Free Report) closed at $15.18 in the latest trading session, marking a -1.62% move from the prior day. This move lagged the S&P 500's daily gain of 1.76%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 3.03%.
Coming into today, shares of the shipping company had lost 18.49% in the past month. In that same time, the Transportation sector lost 6.5%, while the S&P 500 lost 5.94%.
Investors will be hoping for strength from Ardmore Shipping as it approaches its next earnings release. On that day, Ardmore Shipping is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 4133.33%. Our most recent consensus estimate is calling for quarterly revenue of $87.27 million, up 140.48% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.48 per share and revenue of $247.1 million, which would represent changes of -33.69% and -15.38%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.99% higher. 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 6.23 right now. This valuation marks a premium compared to its industry's average Forward P/E of 5.5.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ardmore Shipping (ASC) Stock Sinks As Market Gains: What You Should Know
Ardmore Shipping (ASC - Free Report) closed at $15.18 in the latest trading session, marking a -1.62% move from the prior day. This move lagged the S&P 500's daily gain of 1.76%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 3.03%.
Coming into today, shares of the shipping company had lost 18.49% in the past month. In that same time, the Transportation sector lost 6.5%, while the S&P 500 lost 5.94%.
Investors will be hoping for strength from Ardmore Shipping as it approaches its next earnings release. On that day, Ardmore Shipping is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 4133.33%. Our most recent consensus estimate is calling for quarterly revenue of $87.27 million, up 140.48% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.48 per share and revenue of $247.1 million, which would represent changes of -33.69% and -15.38%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.99% higher. 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 6.23 right now. This valuation marks a premium compared to its industry's average Forward P/E of 5.5.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.