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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 the most recent trading day at $12.96, moving -0.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 0.83%.

Prior to today's trading, shares of the shipping company had gained 1.33% over the past month. This has outpaced the Transportation sector's loss of 5.02% and the S&P 500's loss of 2.84% in that time.

Wall Street will be looking for positivity from Ardmore Shipping as it approaches its next earnings report date. On that day, Ardmore Shipping is projected to report earnings of $0.41 per share, which would represent 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.

ASC's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $253.64 million. These results would represent year-over-year changes of -31.02% and -13.14%, respectively.

It is also important to note the recent changes to analyst estimates for Ardmore Shipping. These recent revisions tend to reflect the evolving nature of short-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. 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 holding a Zacks Rank of #1 (Strong Buy) right now.

Digging into valuation, Ardmore Shipping currently has a Forward P/E ratio of 5.04. This valuation marks a discount compared to its industry's average Forward P/E of 6.89.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.

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