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Ardmore Shipping (ASC) Increases Despite Market Slip: Here's What You Need to Know

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In the latest trading session, Ardmore Shipping (ASC - Free Report) closed at $16.23, marking a +0.12% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.42%.

The shipping company's stock has climbed by 0.68% in the past month, exceeding the Transportation sector's gain of 0.57% and lagging the S&P 500's gain of 2.67%.

Analysts and investors alike will be keeping a close eye on the performance of Ardmore Shipping in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.77, showcasing a 25.96% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $68.13 million, down 16.58% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $2.60 per share and a revenue of $249.15 million, demonstrating changes of -4.06% and -5.65%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ardmore Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ardmore Shipping is currently a Zacks Rank #3 (Hold).

Looking at valuation, Ardmore Shipping is presently trading at a Forward P/E ratio of 6.25. This denotes a discount relative to the industry's average Forward P/E of 8.18.

The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% of all industries, numbering over 250.

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.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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