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Here's Why Ardmore Shipping (ASC) Gained But Lagged the Market Today
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Ardmore Shipping (ASC - Free Report) closed the most recent trading day at $16.70, moving +0.06% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.
Coming into today, shares of the shipping company had gained 5.1% in the past month. In that same time, the Transportation sector gained 0.33%, while the S&P 500 gained 0.48%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is expected to report EPS of $0.77, down 25.96% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $68.13 million, indicating a 16.58% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.60 per share and revenue of $249.15 million, indicating changes of -4.06% and -5.65%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ardmore Shipping. Such recent modifications usually signify the changing landscape 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Ardmore Shipping is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Ardmore Shipping is currently being traded at a Forward P/E ratio of 6.43. For comparison, its industry has an average Forward P/E of 8.11, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why Ardmore Shipping (ASC) Gained But Lagged the Market Today
Ardmore Shipping (ASC - Free Report) closed the most recent trading day at $16.70, moving +0.06% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.
Coming into today, shares of the shipping company had gained 5.1% in the past month. In that same time, the Transportation sector gained 0.33%, while the S&P 500 gained 0.48%.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is expected to report EPS of $0.77, down 25.96% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $68.13 million, indicating a 16.58% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.60 per share and revenue of $249.15 million, indicating changes of -4.06% and -5.65%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ardmore Shipping. Such recent modifications usually signify the changing landscape 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Ardmore Shipping is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Ardmore Shipping is currently being traded at a Forward P/E ratio of 6.43. For comparison, its industry has an average Forward P/E of 8.11, which means Ardmore Shipping is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.