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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 $12.30 in the latest trading session, marking a -0.65% move from the prior day. This change lagged the S&P 500's daily loss of 0.32%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.89%.
Heading into today, shares of the shipping company had lost 9.57% over the past month, lagging the Transportation sector's loss of 5.14% and the S&P 500's loss of 0.12% in that time.
Ardmore Shipping will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.41, down 73.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $52.96 million, down 45.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.58 per share and revenue of $253.64 million, which would represent changes of -31.02% and -13.14%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Ardmore Shipping. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ardmore Shipping is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Ardmore Shipping is holding a Forward P/E ratio of 4.81. This represents a discount compared to its industry's average Forward P/E of 7.01.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 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.
You can find more information on all of these metrics, and much more, on 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 $12.30 in the latest trading session, marking a -0.65% move from the prior day. This change lagged the S&P 500's daily loss of 0.32%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.89%.
Heading into today, shares of the shipping company had lost 9.57% over the past month, lagging the Transportation sector's loss of 5.14% and the S&P 500's loss of 0.12% in that time.
Ardmore Shipping will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.41, down 73.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $52.96 million, down 45.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.58 per share and revenue of $253.64 million, which would represent changes of -31.02% and -13.14%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Ardmore Shipping. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ardmore Shipping is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Ardmore Shipping is holding a Forward P/E ratio of 4.81. This represents a discount compared to its industry's average Forward P/E of 7.01.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.