The latest trading session saw Ardmore Shipping (ASC) ending at $11.41, denoting no adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.61%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.28%.
Shares of the shipping company have depreciated by 5.86% over the course of the past month, underperforming the Transportation sector's gain of 4.09% and the S&P 500's gain of 2.08%.
Market participants will be closely following the financial results of Ardmore Shipping in its upcoming release. The company is expected to report EPS of $0.37, down 41.27% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $53.93 million, down 17.93% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ardmore Shipping. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Ardmore Shipping boasts a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Ardmore Shipping is presently being traded at a Forward P/E ratio of 8.33. This expresses a premium compared to the average Forward P/E of 7.39 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 249, placing it within the bottom 1% 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.
To follow ASC in the coming trading sessions, be sure to utilize Zacks.com.
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