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Ardmore Shipping (ASC) Advances While Market Declines: Some Information for Investors
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Ardmore Shipping (ASC - Free Report) closed the most recent trading day at $13.69, moving +0.59% from the previous trading session. This change outpaced the S&P 500's 1.43% loss on the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 2.43%.
Prior to today's trading, shares of the shipping company had gained 5.91% over the past month. This has outpaced the Transportation sector's loss of 5.91% and the S&P 500's loss of 1.55% in that time.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. The company's earnings report is expected on November 7, 2023. On that day, Ardmore Shipping is projected to report earnings of $0.43 per share, which would represent a year-over-year decline of 72.08%. In the meantime, our current consensus estimate forecasts the revenue to be $53.94 million, indicating a 44.07% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.61 per share and revenue of $255.37 million, which would represent changes of -30.21% and -12.55%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.36% rise in the Zacks Consensus EPS estimate. Ardmore Shipping currently has a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Ardmore Shipping is at present trading with a Forward P/E ratio of 5.21. This valuation marks a discount compared to its industry's average Forward P/E of 7.38.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Ardmore Shipping (ASC) Advances While Market Declines: Some Information for Investors
Ardmore Shipping (ASC - Free Report) closed the most recent trading day at $13.69, moving +0.59% from the previous trading session. This change outpaced the S&P 500's 1.43% loss on the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 2.43%.
Prior to today's trading, shares of the shipping company had gained 5.91% over the past month. This has outpaced the Transportation sector's loss of 5.91% and the S&P 500's loss of 1.55% in that time.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. The company's earnings report is expected on November 7, 2023. On that day, Ardmore Shipping is projected to report earnings of $0.43 per share, which would represent a year-over-year decline of 72.08%. In the meantime, our current consensus estimate forecasts the revenue to be $53.94 million, indicating a 44.07% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.61 per share and revenue of $255.37 million, which would represent changes of -30.21% and -12.55%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.36% rise in the Zacks Consensus EPS estimate. Ardmore Shipping currently has a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Ardmore Shipping is at present trading with a Forward P/E ratio of 5.21. This valuation marks a discount compared to its industry's average Forward P/E of 7.38.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.