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Ardmore Shipping (ASC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Ardmore Shipping (ASC - Free Report) closed at $14.92, marking a -1.97% move from the previous day. This move lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.34%.
Coming into today, shares of the shipping company had lost 14.16% in the past month. In that same time, the Transportation sector lost 2.26%, while the S&P 500 lost 1.21%.
Ardmore Shipping will be looking to display strength as it nears 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.
It is also important to note the recent changes to analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Ardmore Shipping is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 6.15 right now. For comparison, its industry has an average Forward P/E of 6.15, which means Ardmore Shipping is trading at a no noticeable deviation to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.