Ardmore Shipping (ASC) closed the latest trading day at $10.44, indicating a -0.67% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 0.33%.

Heading into today, shares of the shipping company had gained 1.55% over the past month, outpacing the Transportation sector's loss of 5.62% and the S&P 500's loss of 7.48% in that time.

Market participants will be closely following the financial results of Ardmore Shipping in its upcoming release. The company is predicted to post an EPS of $0.20, indicating a 78.26% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $44.23 million, down 41.61% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.06 per share and a revenue of $177.83 million, signifying shifts of -62.68% and -34.9%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ardmore Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Ardmore Shipping is carrying a Zacks Rank of #3 (Hold).

In terms of valuation, Ardmore Shipping is presently being traded at a Forward P/E ratio of 9.92. This represents a premium compared to its industry's average Forward P/E of 9.61.

The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 198, placing it within the bottom 22% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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