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Ardmore Shipping (ASC) Ascends But Remains Behind Market: Some Facts to Note
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Ardmore Shipping (ASC - Free Report) closed at $15.58 in the latest trading session, marking a +0.58% move from the prior day. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow experienced a rise of 1.06%, and the technology-dominated Nasdaq saw an increase of 1.7%.
The shipping company's stock has climbed by 5.16% in the past month, exceeding the Transportation sector's loss of 3.36% and the S&P 500's gain of 0.94%.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. The company is predicted to post an EPS of $0.59, indicating a 54.62% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $60.22 million, down 35.48% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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, there's been no change in the Zacks Consensus EPS estimate. As of now, Ardmore Shipping holds a Zacks Rank of #3 (Hold).
In the context of valuation, Ardmore Shipping is at present trading with a Forward P/E ratio of 7.34. This expresses a discount compared to the average Forward P/E of 8.37 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ardmore Shipping (ASC) Ascends But Remains Behind Market: Some Facts to Note
Ardmore Shipping (ASC - Free Report) closed at $15.58 in the latest trading session, marking a +0.58% move from the prior day. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow experienced a rise of 1.06%, and the technology-dominated Nasdaq saw an increase of 1.7%.
The shipping company's stock has climbed by 5.16% in the past month, exceeding the Transportation sector's loss of 3.36% and the S&P 500's gain of 0.94%.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. The company is predicted to post an EPS of $0.59, indicating a 54.62% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $60.22 million, down 35.48% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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, there's been no change in the Zacks Consensus EPS estimate. As of now, Ardmore Shipping holds a Zacks Rank of #3 (Hold).
In the context of valuation, Ardmore Shipping is at present trading with a Forward P/E ratio of 7.34. This expresses a discount compared to the average Forward P/E of 8.37 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.