In the latest trading session, Ardmore Shipping (ASC) closed at $17.42, marking a +0.87% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.26%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 1.99%.
Prior to today’s trading, shares of the shipping company had gained 3.48% over the past month. This has outpaced the Transportation sector’s loss of 3.35% and the S&P 500’s loss of 2.68% in that time.
The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2024. On that day, Ardmore Shipping is projected to report earnings of $0.87 per share, which would represent a year-over-year decline of 16.35%. At the same time, our most recent consensus estimate is projecting a revenue of $73.58 million, reflecting a 9.91% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.72 per share and revenue of $251.87 million, which would represent changes of +0.37% and -4.62%, respectively, from the prior year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Ardmore Shipping. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 a 4.82% increase. As of now, Ardmore Shipping holds a Zacks Rank of #2 (Buy).
In terms of valuation, Ardmore Shipping is presently being traded at a Forward P/E ratio of 6.35. For comparison, its industry has an average Forward P/E of 7.82, which means Ardmore Shipping is trading at a discount to the group.
The Transportation – Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don’t forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
