Back to top

Image: Bigstock

Ardmore Shipping (ASC) Stock Falls Amid Market Uptick: What Investors Need to Know

Read MoreHide Full Article

Ardmore Shipping (ASC - Free Report) ended the recent trading session at $14.97, demonstrating a -0.2% swing from the preceding day's closing price. This change lagged the S&P 500's 1.41% gain on the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.2%.

Heading into today, shares of the shipping company had gained 9.41% over the past month, outpacing the Transportation sector's gain of 4.07% and the S&P 500's gain of 2.9% in that time.

Market participants will be closely following the financial results of Ardmore Shipping in its upcoming release. The company's earnings per share (EPS) are projected to be $0.59, reflecting a 54.62% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $60.22 million, down 35.48% from the prior-year quarter.

Investors should also take note of any recent adjustments to analyst estimates for Ardmore Shipping. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Ardmore Shipping is currently sporting a Zacks Rank of #2 (Buy).

In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 7.11. This indicates a discount in contrast to its industry's Forward P/E of 7.43.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Ardmore Shipping Corporation (ASC) - free report >>

Published in