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Ardmore Shipping (ASC) Flat As Market Sinks: What You Should Know
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In the latest trading session, Ardmore Shipping (ASC - Free Report) closed at $12.44, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 1.64%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Coming into today, shares of the shipping company had lost 4.89% in the past month. In that same time, the Transportation sector lost 2.87%, while the S&P 500 gained 0.89%.
Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. In that report, analysts expect Ardmore Shipping to post earnings of $0.41 per share. This would mark a year-over-year decline of 73.38%. Our most recent consensus estimate is calling for quarterly revenue 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ardmore Shipping is currently a Zacks Rank #2 (Buy).
Investors should also note Ardmore Shipping's current valuation metrics, including its Forward P/E ratio of 4.83. For comparison, its industry has an average Forward P/E of 6.84, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Ardmore Shipping (ASC) Flat As Market Sinks: What You Should Know
In the latest trading session, Ardmore Shipping (ASC - Free Report) closed at $12.44, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 1.64%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Coming into today, shares of the shipping company had lost 4.89% in the past month. In that same time, the Transportation sector lost 2.87%, while the S&P 500 gained 0.89%.
Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. In that report, analysts expect Ardmore Shipping to post earnings of $0.41 per share. This would mark a year-over-year decline of 73.38%. Our most recent consensus estimate is calling for quarterly revenue 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ardmore Shipping is currently a Zacks Rank #2 (Buy).
Investors should also note Ardmore Shipping's current valuation metrics, including its Forward P/E ratio of 4.83. For comparison, its industry has an average Forward P/E of 6.84, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.