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Ardmore Shipping (ASC) Stock Falls Amid Market Uptick: What Investors Need to Know

Zacks Equity Research
·2-min read

Ardmore Shipping (ASC) closed at $20 in the latest trading session, marking a -1.91% move from the prior day. This move lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.14%.

Coming into today, shares of the shipping company had lost 9.5% in the past month. In that same time, the Transportation sector lost 2.17%, while the S&P 500 gained 4.34%.

Investors will be eagerly watching for the performance of Ardmore Shipping in its upcoming earnings disclosure. The company is expected to report EPS of $1.03, up 80.7% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $79.79 million, up 32.1% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.25 per share and a revenue of $280.31 million, signifying shifts of +19.93% and +6.15%, respectively, from the last year.

Investors should also take note of any recent adjustments to analyst estimates for Ardmore Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Ardmore Shipping is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 6.28 right now. This signifies a discount in comparison to the average Forward P/E of 7.23 for its industry.

The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 39, placing it within the top 16% of over 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report

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Zacks Investment Research