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In the latest trading session, Ardmore Shipping (ASC) closed at $9.01, marking a -1.1% move from the previous day. The stock's change was less than the S&P 500's daily gain of 2.51%. On the other hand, the Dow registered a gain of 2.66%, and the technology-centric Nasdaq increased by 2.71%.
Shares of the shipping company witnessed a loss of 10.25% over the previous month, trailing the performance of the Transportation sector with its loss of 9.55% and the S&P 500's loss of 8.86%.
The upcoming earnings release of Ardmore Shipping will be of great interest to investors. It is anticipated that the company will report an EPS of $0.20, marking a 78.26% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $44.23 million, indicating a 41.61% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.06 per share and revenue of $177.83 million. These totals would mark changes of -62.68% and -34.9%, respectively, from last year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Ardmore Shipping presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 8.59. This represents a premium compared to its industry's average Forward P/E of 8.52.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 174, finds itself in the bottom 30% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.