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Ardmore Shipping (ASC) Stock Drops Despite Market Gains: Important Facts to Note
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The most recent trading session ended with Ardmore Shipping (ASC - Free Report) standing at $12.56, reflecting a -1.64% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq decreased by 0.06%.
The shipping company's stock has climbed by 9.5% in the past month, exceeding the Transportation sector's loss of 5.71% and the S&P 500's loss of 2.7%.
Investors will be eagerly watching for the performance of Ardmore Shipping in its upcoming earnings disclosure. The company is expected to report EPS of $0.37, down 41.27% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $53.93 million, indicating a 17.93% decline compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Ardmore Shipping should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 22.82% decrease. Ardmore Shipping is holding a Zacks Rank of #5 (Strong Sell) right now.
From a valuation perspective, Ardmore Shipping is currently exchanging hands at a Forward P/E ratio of 9.17. Its industry sports an average Forward P/E of 7.11, so one might conclude that Ardmore Shipping is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 241, positioning it in the bottom 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Ardmore Shipping (ASC) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Ardmore Shipping (ASC - Free Report) standing at $12.56, reflecting a -1.64% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq decreased by 0.06%.
The shipping company's stock has climbed by 9.5% in the past month, exceeding the Transportation sector's loss of 5.71% and the S&P 500's loss of 2.7%.
Investors will be eagerly watching for the performance of Ardmore Shipping in its upcoming earnings disclosure. The company is expected to report EPS of $0.37, down 41.27% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $53.93 million, indicating a 17.93% decline compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Ardmore Shipping should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 22.82% decrease. Ardmore Shipping is holding a Zacks Rank of #5 (Strong Sell) right now.
From a valuation perspective, Ardmore Shipping is currently exchanging hands at a Forward P/E ratio of 9.17. Its industry sports an average Forward P/E of 7.11, so one might conclude that Ardmore Shipping is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 241, positioning it in the bottom 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.