Yahoo Finance Ardmore Shipping (ASC) Gains As Market Dips: What You Should Know
Ardmore Shipping (ASC) closed at $13.72 in the latest trading session, marking a +0.07% move from the prior day. This move outpaced the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.44%.
Prior to today's trading, shares of the shipping company had lost 6.48% over the past month. This has lagged the Transportation sector's gain of 4.45% and the S&P 500's gain of 4.57% in that time.
Ardmore Shipping will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.11, up 544% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $83.94 million, up 201.18% from the year-ago period.
Any recent changes to analyst estimates for Ardmore Shipping should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 30.28% higher. Ardmore Shipping is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 5.36. For comparison, its industry has an average Forward P/E of 4.93, which means Ardmore Shipping is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.
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Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report
