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Ardmore Shipping (ASC) Stock Dips While Market Gains: Key Facts
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The most recent trading session ended with Ardmore Shipping (ASC - Free Report) standing at $15.97, reflecting a -1.84% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Coming into today, shares of the shipping company had gained 14.18% in the past month. In that same time, the Transportation sector lost 3.36%, while the S&P 500 gained 2.48%.
The investment community will be paying close attention to the earnings performance of Ardmore Shipping in its upcoming release. In that report, analysts expect Ardmore Shipping to post earnings of $0.59 per share. This would mark a year-over-year decline of 54.62%. At the same time, our most recent consensus estimate is projecting a revenue of $60.22 million, reflecting a 35.48% fall from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ardmore Shipping is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 7.71 right now. This represents a discount compared to its industry's average Forward P/E of 7.79.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 178, finds itself in the bottom 30% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.
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Ardmore Shipping (ASC) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with Ardmore Shipping (ASC - Free Report) standing at $15.97, reflecting a -1.84% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Coming into today, shares of the shipping company had gained 14.18% in the past month. In that same time, the Transportation sector lost 3.36%, while the S&P 500 gained 2.48%.
The investment community will be paying close attention to the earnings performance of Ardmore Shipping in its upcoming release. In that report, analysts expect Ardmore Shipping to post earnings of $0.59 per share. This would mark a year-over-year decline of 54.62%. At the same time, our most recent consensus estimate is projecting a revenue of $60.22 million, reflecting a 35.48% fall from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ardmore Shipping is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 7.71 right now. This represents a discount compared to its industry's average Forward P/E of 7.79.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 178, finds itself in the bottom 30% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.