Yahoo Finance Ardmore Shipping (ASC) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Ardmore Shipping (ASC) standing at $22.26, reflecting a +1.09% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.85% for the day. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw an increase of 1.53%.
The shipping company's stock has climbed by 0.41% in the past month, exceeding the Transportation sector's loss of 4.56% and lagging the S&P 500's gain of 3.11%.
Investors will be eagerly watching for the performance of Ardmore Shipping in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.03, signifying an 80.7% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $79.79 million, up 32.1% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.25 per share and a revenue of $280.31 million, demonstrating changes of +19.93% and +6.15%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Ardmore Shipping. Such recent modifications usually signify the changing landscape of 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 6.79. This indicates a discount in contrast to its industry's Forward P/E of 7.79.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report
