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Ardmore Shipping (ASC) Gains But Lags Market: What You Should Know
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Ardmore Shipping (ASC - Free Report) closed at $12.24 in the latest trading session, marking a +0.25% move from the prior day. This change lagged the S&P 500's 0.71% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Prior to today's trading, shares of the shipping company had lost 3.55% over the past month. This has lagged the Transportation sector's gain of 3.43% and the S&P 500's gain of 2.65% in that time.
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 $0.73 per share, which would represent a year-over-year decline of 9.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $66.79 million, up 1.27% from the year-ago period.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.79 per share and revenue of $262 million. These results would represent year-over-year changes of -25.4% and -10.28%, respectively.
Investors might also notice recent changes to analyst estimates for Ardmore Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Ardmore Shipping is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Ardmore Shipping currently has a Forward P/E ratio of 4.38. Its industry sports an average Forward P/E of 6.48, so we one might conclude that Ardmore Shipping is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 27% 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 But Lags Market: What You Should Know
Ardmore Shipping (ASC - Free Report) closed at $12.24 in the latest trading session, marking a +0.25% move from the prior day. This change lagged the S&P 500's 0.71% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Prior to today's trading, shares of the shipping company had lost 3.55% over the past month. This has lagged the Transportation sector's gain of 3.43% and the S&P 500's gain of 2.65% in that time.
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 $0.73 per share, which would represent a year-over-year decline of 9.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $66.79 million, up 1.27% from the year-ago period.
ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.79 per share and revenue of $262 million. These results would represent year-over-year changes of -25.4% and -10.28%, respectively.
Investors might also notice recent changes to analyst estimates for Ardmore Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Ardmore Shipping is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Ardmore Shipping currently has a Forward P/E ratio of 4.38. Its industry sports an average Forward P/E of 6.48, so we one might conclude that Ardmore Shipping is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 27% 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.